GM vs. Ford's ill-fated EV battle The goal is to overthrow Tesla

 

Longtime rivals face off, this time an electric pickup truck


General Motors (GM) CEO Mary Barra has been preparing for weeks to unveil an electric version of the Chevrolet Silverado on stage. It's a model for GM to make a big bet in the nascent battery-powered pickup truck market.


 At Ford's headquarters, about 15 kilometers from there, executives were planning a preemptive strike through public relations activities. That's what several people familiar with the plan say. Barra's January presentation came a day after Ford announced it would double production capacity of its F-150 Lightning electric pickup truck. He cited the overwhelming strength of demand as the reason. Ford shares rose 12% on the day.


 Over the next few days, Mr. Barra said that during informal meetings with investors, he was bombarded with questions about why Ford's electric pickup truck was one year ahead of its time. Reflecting on the meeting, Mr. Barra said investors "wanted to understand the EV portfolio we were about to launch," and that topic wasn't the focus of the conversation.


 The rivalry between Ford and GM has been one of the fiercest rivalries in the business world over the past 100 years, but with the advent of the electric vehicle (EV) era, it is showing impending development to a new dimension. Both companies are under pressure to prove to Wall Street that they can close the gap with Tesla Inc., which is quickly establishing itself in the electric-vehicle market.

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