'Take That Elon Musk': Ford CEO Jim Farley Highlights EV Pickup Truck Lead

Tesla Inc TSLA CEO Elon Musk received a light-hearted jab from Ford Motor Company F CEO Jim Farley on Wednesday after the Farley announced a strategic investment in the solar industry.


What happened: On Wednesday, Farley took aim at Musk while unveiling a solar energy venture with DTE Energy Co DTE. The light-hearted dig was meant to contrast Ford’s electric pickup, the F-150 Lightning, with Tesla’s nearly forgotten Cybertruck.


The F-150 served as a baseline for Musk’s Cybertruck’s power; a video from 2019 showed a tug-of-war between Musk’s Cybertruck and a standard gas-powered F-150, with Musk’s truck winning.


“We’re really on a mission at Ford to lead an electric and digital revolution for many, not few,” Farley mentioned. “And I have to say the shining light for us at Ford is this beautiful Lightning made right down the road in Dearborn, right here in the state of Michigan, already the leader of all EV pickup trucks in our industry in the United States.


“Take that, Elon Musk,” Farley quipped.


Related: Market Leader: Here’s How Many F-150 Lightning Electric Pickups Ford Sold In June


Ford’s solar agreement with Detroit’s DTE Energy aims to establish Ford as a dominant player in the renewable energy sector.


Under the contract, DTE will build 650 megawatts of solar energy capacity in Michigan for Ford, which is enough to power 14,000 households. The installation will result in a nearly 70% increase in the state’s overall solar capacity.


Why It Matters: The only other two electric trucks on the market are the Rivian Automotive Inc RIVN R1T and General Motors Company GM Hummer EV. However, the F-150 Lightning is currently the most popular model.


Also read: Ford Q2 Earnings Highlights: Revenue And EPS Beat, Strong Electric Vehicle Demand, Dividend Raise And More


The Cybertruck was first unveiled in 2019 and was scheduled to begin production in 2021, but Musk has stated that it will now begin sometime in 2023.


The Ford Mustang Mach-E comes in third place among electric vehicles sold in the U.S., after the Tesla Model 3 and Model Y, with 16,162 units delivered during the second quarter of 2022 compared to 238,533 for the Model 3.

Photo: Courtesy Ford

Image and article originally from www.benzinga.com. Read the original article here.