Ford Goes After Tesla With All-Electric Crossover

Ford Motor (NYSE: F) is trying to steal Tesla's (NASDAQ: TSLA) thunder, unveiling an all-electric crossover, the first salvo in what is expected to be a battle for electric truck supremacy.

While the market for electric trucks, or cars for that matter, is still in its infancy, they are expected to explode as environmentally conscious consumers do their part to fight climate change. It doesn't hurt that consumers are in love with their trucks, SUVs, and crossovers, at least in the U.S.

According to J.D. Power, of new vehicles purchased, 71% fall in the truck, SUV, or crossover category, relegating cars to just 30% of the market. It behooves car manufacturers to churn out new trucks, including electric ones, given they typically have higher average selling prices and better margins than passenger vehicles.

Source Fool.com