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Ford doesn’t believe low fuel prices will annihilate the electric car segment, claiming motorists buy EVs because they’re great

2021 Ford Mustang Mach-E

2021 Ford Mustang Mach-E

Bengt Halvorson / Green Car Reports »

Ford’s global director of electrification, Mark Kaufman »

“Ford’s perspective is in order to meet that demand, you’ve got to really come up with a compelling reason for the customers to buy—so exciting products, great capability, new functionality that you can’t quite get with a conventionally powered vehicle for us are all ways that we can help manage that transition to the end of the decade.”

And that’s why Ford doesn’t see the success of its EVs like Mach-E as being tethered to the price of gas, he said.

“We think…people are buying them because they’re great products first and maybe that cost of ownership on some products, like the commercial van, might be a little bit more of a consideration,” he said. “If you were only relying on cost of ownership as your main reason for purchase, this (very low gas prices) could be quite disruptive.”

More » Autoblog

Suncor Energy’s CEO » The shift to electric vehicles and other low-carbon technologies could disrupt crude oil demand on a similar scale to the coronavirus pandemic

Jeff Lewis / Reuters »

The comments are a stark prediction in an industry that frequently downplays the impact of electrification and points to forecasts of rising global oil demand to justify new investment and pipeline expansions.

Canada is the world’s fourth-largest oil producer and the sector accounts for 10.6% of the country’s gross domestic product.

“While Canadian oil and gas will remain a significant part of the global energy mix for some time, we have to take advantage of new opportunities that offer attractive growth prospects,” Suncor CEO Mark Little said in an opinion article for Canada’s Corporate Knights magazine.

Related » James S Murray / Business Green » If all cars were electric, UK carbon emissions would drop by 12 per cent

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