By Nora Eckert
DETROIT (Reuters) - Ford (NYSE:F) is trying to woo the electric vehicle-curious by offering free home chargers and installation to buyers of EVs through the end of the year, the company said on Monday.
As automakers try to energize sagging EV demand, they've focused on improving access to chargers, along with addressing concerns around price and battery range.
"There's no bigger obstacle than charging," Ford CEO Jim Farley told Reuters in an interview.
The free charger and installation benefit applies to customers who buy or lease a Ford Mustang Mach-E, F-150 Lightning pickup truck or E-Transit Cargo van from Oct. 1 through year-end, Ford said.
Farley learned more about these challenges after embarking on two EV road trips across Europe and the Western U.S., prompting him and his team to focus on a place drivers can count on for reliable and consistent charging: their homes.
"We spend all this time in the industry talking about charging on the road, and yet we kind of overlooked the most basic charging solution for America," Farley said.
He declined to say how much the program will cost. Marin Gjaja, chief operating officer of Ford's electric division, said the company expects to "contain it in our existing financials."
Ford is already struggling to cut costs on its battery-powered models, and it faces a $5 billion loss on its electric unit this year.
The carmaker canceled a much-touted three-row electric SUV in August to slash spending, although the move could cost the automaker about $1.9 billion in the near-term.
Ford sold about 44,000 electric vehicles in the first half of 2024, up 72% from a year earlier, making it the second largest EV seller in the United States. Still, it is far behind Tesla (NASDAQ:TSLA), which delivered around 831,000 vehicles in that time.
Ford in May 2023 became the first major automaker to partner with Tesla on its nationwide network of superchargers. Ford's vehicles are expected to come with compatible charging ports starting in 2025 to more easily power up at Tesla stations.
Customers who purchase a Ford EV in the fourth quarter and already have a home charger or live in an apartment will be eligible to receive a $2,000 cash equivalent from dealers, Ford said.