Business customers make better early EV adopters than the average car buyer, Farley believes, because they care more about total cost of ownership than about higher upfront price. With far fewer moving parts, and highly reliable electric motors, repair and maintenance costs can be significantly lower.
And for many commercial buyers, range isn’t the issue it might be for families who travel long distance. Most businesses operate within a relatively small radius, many with depots that accommodate charging overnight.
In model year 2025, Ford plans to introduce a totally revamped EV platform, including over-the-air instant software updates on par or exceeding Tesla’s. Tesla pioneered that feature, and it is a key element in its market success. Thus far, no other automaker has matched it.