Gasgoo News – According to Bloomberg, Ford Motor Company has vowed to make electric vehicles (EVs) more affordable following the Trump administration’s decision to eliminate the federal EV tax credit of up to 7,500.𝐶𝑢𝑟𝑟𝑒𝑛𝑡𝑙𝑦,𝐹𝑜𝑟𝑑’𝑠𝑚𝑜𝑠𝑡𝑏𝑢𝑑𝑔𝑒𝑡−𝑓𝑟𝑖𝑒𝑛𝑑𝑙𝑦𝐸𝑉𝑖𝑠𝑝𝑟𝑖𝑐𝑒𝑑𝑗𝑢𝑠𝑡𝑢𝑛𝑑𝑒𝑟7,500.Currently,Ford’smostbudget−friendlyEVispricedjustunder38,000—22% lower than the average U.S. vehicle price.

At the Bloomberg Green Summit in Seattle on July 15, Bob Holycross, Ford’s Vice President of Sustainability, Environment, and Safety Engineering, stated, “This is exactly where we need to go. If we want EVs to move beyond early adopters and into the mainstream, affordability is key.”

High prices remain one of the biggest barriers to widespread EV adoption. Data from Edmunds.com reveals that in April, the average EV purchase price in the U.S. hit 59,900—𝑎𝑏𝑜𝑢𝑡59,900—about11,000 higher than the national average vehicle transaction price.

After Congress repealed the federal EV tax credit and scaled back supportive policies, analysts have significantly downgraded EV sales forecasts.

Despite this, Ford and its competitors have made notable progress in vehicle pricing: Since January 2023, the average transaction price for electric vehicles (EVs) in the U.S. market has declined by 7.4% (unadjusted for inflation), with 19 all-electric models now priced below the industry’s average vehicle purchase price—including the Ford Mustang Mach-E.

Bob Holycross emphasized, “We must compete on affordability, not just for the U.S. auto industry but globally.” He also noted Ford’s strategic shift toward hybrid and extended-range electric vehicles (EREVs), with plans to expand hybrid options across its lineup. Ford engineers are currently evaluating data on EREVs, which utilize a small gasoline engine solely to charge a high-capacity battery. While still involving internal combustion, this innovative powertrain promises significantly longer ranges than conventional EVs.

“This technology will be part of the mix we need to assess carefully,” Holycross stated. “The focus should be on ‘zero-emission miles’—not just pure electric range.”