Ford outlines EV investment structure for its dealers as it chases Tesla-like profit


Ford CEO Jim Farley poses next to a model of the all-new Ford F-150 Lightning electric pickup truck at the Ford Rouge Electric Vehicle Center in Dearborn, Michigan, April 26, 2022.

Rebecca Cook | Reuters

LAS VEGAS – Ford Motor is asking its nearly 3,000 dealers to invest upward of $1 million in upgrades to sell all-electric vehicles, as the automaker attempts to cut overhead costs and boost profits at its retailers to better align with EV-leader Tesla.

Ford is offering its dealers the option to become “EV-certified” under one of two programs — with investments of $500,000 or $1.2 million. Dealers in the higher tier, which carries upfront costs of $900,000, will receive “elite”…


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