Ford adopts Tesla charging standard to gain access to Supercharging network

Farley said Ford is “totally committed” to a single US charging protocol that includes Tesla’s plug port, known as North American Charging Standard (NACS).

It seems the Ford CEO is starting to see the threats and opportunities that come with the rapid shift to EVs. Last week Morgan Stanley hosted Jim Farley at its Sustainable Finance Summit in New York where he admitted that “the Chinese are coming to the US” and predicted a “supplier shakeout.”

Farley said he was impressed with the vertical integration from companies like BYD. “I like BYD. Totally vertically integrated, aggressive, unapologetic…a very, very impressive company.”

Morgan Stanley said that when discussing Ford’s long term business model Farley said he believes almost no money will be made in selling cars and that the value will come from the recurring services opportunity. A business model similar to that of Tesla.

During Ford’s Capital Markets Day last week Farley said that Ford is “stuck in a box” and outlined the company’s strategy of splitting off Ford’s EV business and redesigning its business model.

Speaking at the event Farley articulated Ford e’s plan.

“First, developing incredible EVs and software platforms for all of our vehicle businesses. Number two, launching a new consumer experience with our dealers. And number three, building our industrial system to deliver millions of EVs super efficiently.”

“I think Ford’s overall strategy with EVs is smart.” said Elon Musk earlier this month.

It’s great to see the two CEO’s openly discussing the future of the automotive industry. The mutual respect and alignment on strategy could help Ford manage the transition to EVs. A feat which no legacy automaker has been able to achieve so far.