Shulou(Shulou.com)11/24 Report--

CTOnews.com February 25 news, former Ford CEO Mark Fields pointed out in an interview with CNBC that Tesla is still the benchmark in the field of electric vehicles. The auto industry veteran also said that as the electric car industry becomes more competitive, some small companies that now make high-end electric cars may find themselves acquired by big companies.

He may be talking about automakers like Lucid Motors and Nikola Corp, which reported disappointing fourth-quarter results.

As far as Lucid is concerned, the company's Q4 revenue is well below expectations. To the best of CTOnews.com 's knowledge, it produced 3493 Air cars in the fourth quarter of 2022, but delivered only 1932. Nikola's performance was even more surprising, producing only 133 electric trucks but delivering only 20 to dealers.

Fields points out that for companies like Lucid, the story seems to be shifting from a production challenge to a demand challenge. He also points out that the road ahead "will only get harder" as young carmakers like Lucid see competition from established companies such as Mercedes-Benz at the top end of the market.

With this in mind, the former Ford chief executive points out that eventually, some of these companies may end up being acquired by larger companies. "one thing is certain-these companies will continue to need money to develop their business. some will succeed and some will have to be acquired by larger players.

As for Tesla, he said the company's decision to vertically integrate its business had paid off. According to him, this does make the company "the master of its own destiny". "when you combine it with their brand, their brand is highly valued because they are forerunners and they continue to receive a premium," the car veteran said.

"I think every carmaker still sees Tesla as a leader at the moment," Fields said.

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