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illuminem summarizes for you the essential news of the day. Read the full piece on Financial Post or enjoy below:
🗞️ Driving the news: Ford is offering free home EV chargers and installation, valued at $2,300, to buyers of its electric vehicles (Mustang Mach-E, F-150 Lightning, E-Transit), aiming to boost sales and address "change anxiety" around EV adoption
🔭 The context: Research shows 80% of EVs are charged at home, and Ford wants consumers to view EV charging as a seamless, overnight process—comparable to charging a smartphone—rather than a source of anxiety about range
🌍 Why it matters for the planet: Encouraging EV adoption helps reduce carbon emissions from traditional vehicles, supporting the shift towards greener transportation
⏭️ What's next: The incentive, running until year-end, also includes a $2,000 cash incentive for buyers without home charging options, as Ford adjusts its strategy amid rising competition and slow EV growth in the U.S.
💬 One quote: "It’s not range anxiety we’re dealing with, it’s change anxiety." — Martin Delonis, Senior Manager, Ford Model e EV
📈 One stat: Ford's EV sales through August 2024 grew 58% year-on-year but still accounted for only 4.4% of total U.S. revenue
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