Ford Has the Perfect EV Car to Conquer The Middle Class

Ford  (F) – Get Ford Motor Company Report knows that to a major extent, the broad adoption of electric vehicles in the heartland of America rests on its shoulders. 

If Tesla  (TSLA) – Get Tesla Inc Report and its charismatic chief executive, Elon Musk, have transformed the auto sector by forcing it toward electrification, EVs have not yet persuaded all consumers — in particular middle- and lower-income Americans. 

When a lower-income family has to decide between buying an internal-combustion-engine vehicle and a battery-powered one, the choice is clear because EVs are still very costly. Finding a model costing less than $32,000 is difficult. And given the disruptions in supply chains and soaring prices for raw materials, electric vehicles below $30,000 are, for now at least, a pipedream.