Ford CEO Jim Farley posts an insightful ode to electric vehicles as a ‘lifelong petrol head’
Ford Motor Company CEO Jim Farley recently posted an opinion piece to social media, sharing a fresh and inspiring perspective about his newfound love for electric vehicles. As a self-described “lifelong petrol head,” Farley definitely found his niche by heading one of the world’s most prominent automakers. Given his foresight into the future of electrification, it’s easy to see why he’s CEO, and better still, he has the data to back his statements up.
Jim Farley said he always wanted to be a “car guy.”
With time spent at Toyota and Lexus before joining Ford in 2007, Farley has definitely engrained himself in the car world. During his tenure at Ford Motor Company, he has risen through the ranks as a senior member of the executive team before being named the company CEO in 2020.
Long before Farley took over, the automotive industry had begun to shift toward electric vehicles that are more powerful, quieter, and, most importantly, cleaner in emissions. In a recent post, Farley said, “The rumble of a V-8 feels like the soundtrack of my life,” and that he still spends many weekends “wrenching” on his 1973 Ford Bronco.
The head of Ford clearly has a passion for combustion vehicles, which he spent most of his career developing, but Farley has admitted to a newfound love of electric vehicles and explains why. Furthermore, he does an excellent job of addressing common misconceptions about EVs as well as his predictions for the future of the industry.
Ford CEO: EVs will be the next great shift in mobility
We highly recommend reading the opinion piece in its entirety recently posted to LinkedIn by Ford CEO Jim Farley. It’s a five-minute read that is well thought out and relatable, and Farley comes off as informed, honest, and approachable, even as the head of a major automaker.
The piece is also full of strong arguments that make pro-EV advocates like us throw our hands up and say, “Preach!” This first part sounds partially like an ad for the F-150 Lightning, but Farley does share some insight on how he fell in love with EVs:
As a lifelong petrol head, I was surprised as anyone when I fell in love with electric vehicles.
It wasn’t government policies or political beliefs that sparked this late-career romance with electric vehicles. It’s because I drive one – my Ford F-150 Lightning Platinum. It is astonishingly quiet and smooth. The effortless acceleration leaves you with a silly grin once you get the feeling back in your face. Every morning, mine is topped up with 300 miles of range. No gas stations, ever…
… It’s that simple. For me, and for millions of Americans, electric vehicles are removing daily hassles and reminding us why we love to drive. If you want to have a blast behind the wheel, take a Mustang Mach-E Rally out on a dirt road.
Next, the Ford CEO addresses some misconceptions about EVs and compares the nascent technology to other paradigm shifts in our world of industry, such as mobile phones and computers, and even recalls a time when the internet was just a fad. Per Farley:
It takes time for innovations to take hold. But when they do, the shift is profound and lasting.
I believe the next great shift for vehicles will be toward software-defined and electric vehicles.
After that, Farley addresses a key issue (and misconception) among consumers who are considering going electric: how much range they need. Per the post, Ford’s research shows that approximately 50% of Americans only take trips over 150 miles four days or less per year.
Farley also stated that 80% of EV owners charge at home and acknowledges that public charging networks in North America are continuing to grow. Ford’s CEO mentions a road trip across the US he took in an F-150 Lightning last year but left out the part about how shocked he was that it was so difficult to find reliable chargers. Still, Farley appears optimistic about those networks:
Charging access and speed will keep getting better, just as cellular networks went from staticky and constantly dropping to clear and reliable.
Farley also shared that close to 70% of global EV owners say they are sticking to electric vehicles only in the future. With the US recently imposing higher tariffs on Chinese-made EVs and Europe and possibly Canada following suit, Ford’s CEO took an opportunity to stress the importance of supporting American automakers and to trust that the 121-year-old automaker knows what it’s doing. Per Farley’s post:
Here’s the other thing. We are in a global race to compete in a future where electric propulsion will undoubtedly be a giant force in transportation. America cannot cede innovation leadership to China, Europe, or any other region. Ford has survived and thrived for 121 years because we have never been shy about seizing the moment to innovate and face the future. Now, we are investing billions in plants, tech centers, and our workforce to create the must-have cars, SUVs, and trucks of tomorrow.
It’s true that we are losing money on electric vehicles in the first innings of this transition, largely due to the upfront investment costs. But that too is changing. After all, what major technological leap forward wasn’t challenging and costly at the early stages?
The tipping point we’re working toward will come not from regulators who push us or from politicians who try to hold us back. It will come from consumers. Not when an arbitrary market share is reached, but when electric vehicles are simply better for more customers – better to drive, cheaper to own, and easier to integrate into daily life. This is the reality for millions already.
Well said, Jim; welcome to the pack, from one EV lover to another.
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British oil and gasoline company BP (British Petroleum) signage is being pictured in Warsaw, Poland, on July 29, 2024.
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Five months ago, British energy major BP was firmly in the spotlight as a prime takeover candidate. Now, not so much.
Shares of the London-listed oil giant have climbed more than 32% since early April, outperforming many of its U.S. and European rivals.
The improving sentiment can be attributed to a range of factors, including BP’s fundamental strategic reset, a leadership shake-up, progress on its cost-cutting program and a string of recent oil discoveries.
It marks a stark contrast to earlier in the year, when BP found itself to be the subject of intense takeover speculation, with British rival Shell, UAE oil giant ADNOC and U.S. majors Exxon Mobil and Chevron all among the names touted as possible suitors.
BP CEO Murray Auchincloss insisted the company was focused on growth when asked about any approaches, saying last month: “That’s what is going to drive the share price up for shareholders.”
Shell, for its part, swiftly denied reports in late June that early-stage talks were taking place to acquire BP. The company said at the time that it had “no intention” of making a blockbuster offer for its embattled rival.
Allen Good, equity analyst at Morningstar, said he was unsure of the merit of the takeover speculation from the outset, even while the company was in turmoil and trading at a steep discount to its peers.
“Shares have since done better,” Good told CNBC. “And I think probably the most recent catalyst was the selection of the new chair, who is coming from CRH and has previous experience with meaningful turnarounds and being successful.”
Shares of BP since April 11.
Following a green strategy U-turn earlier in the year, BP announced in July the appointment of Albert Manifold as its new chairman. The former boss of building materials producer CRH has since joined the firm’s board and will formally become chair from Oct. 1.
A BP spokesperson was not immediately available to comment when contacted by CNBC.
Oil discoveries and Elliott’s arrival
BP’s share price gain has coincided with some notable rating and price target upgrades. Berenberg, for instance, recently upgraded BP to buy from hold and raised its price target to £5.00 ($6.73), from £3.85, citing the firm’s significantly stronger second-quarter results.
In early August, BP reported underlying replacement cost profit, used as a proxy for net profit, of $2.35 billion for the three months through June — comfortably beating analyst expectations of $1.81 billion, according to an LSEG-compiled consensus.
Speaking to CNBC’s “Squawk Box Europe” shortly after these results, BP’s Auchincloss highlighted the growth potential of the company’s recent oil and gas discoveries, adding that he was “very optimistic” about the discovery in the Bumerangue block in Brazil’s Santos Basin, just over 400 kilometers (248.5 miles) from Rio de Janeiro.
The discovery marked the firm’s 10th since the start of the year and is regarded as a potentially significant boost as BP continues to double down on hydrocarbons.
Russ Mould, investment director at AJ Bell, said BP’s resilience in the face of skepticism “is interesting and can be a telling sign,” particularly as the share price rise comes despite what he described as “relentlessly negative commentary” on both the company and the oil price.
“Elliott’s arrival on the share register remains a factor, too, as the activist presses for disposals, improved cash flow, deleveraging and improved cash returns to shareholders, a clarion call to which BP appears to be listening,” Mould told CNBC by email.
Activist investor Elliott went public with a stake of more than 5% in BP in late April, bolstering expectations that its involvement could pressure the company to shift back toward its core oil and gas businesses.
A fuel pump is seen connected to a car at a gas station in Krakow, Poland on June 19, 2025.
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Given Shell’s reported interest in a takeover appears to have cooled, Mould said BP’s best defense to any potential suitors would be a higher share price and an improved valuation.
“Valuation, or the price paid, is the ultimate arbiter of investment return and the more they have to stump up, the less likely predators are to appear, as higher valuations limit upside potential and increase downside risks should anything unexpected go wrong,” Mould said.
Debt burden
Looking ahead, energy analysts singled out BP’s relatively high debt burden as a potential cause for concern, however.
BP’s net debt came in at $26.04 billion at the end of the second quarter, down from nearly $27 billion in the first three months of the year.
“If you get a situation where oil prices start falling, then they are certainly the most exposed in the peer group,” Morningstar’s Good said. “So, that would be something that could derail this momentum.”
Government researchers in the US and abroad believe we could help decarbonize and electrify the transportation sector with hardy, fast-growing plants that collect the metals needed to manufacture electric vehicle batteries in their roots, then harvest those metals later with a process that’s cleaner and cheaper than traditional mineral mining.
Nickel is just one example of a critical element in the production of modern EV batteries, but mining it is messy, expensive, and destructive. It used to be, anyway – a new French biotech startup says it has a better idea: extracting nickel from daisies.
Getting nickel and other useful metals from plants is made possible through a process called phytomining. But, as you’ve probably guessed, everyday plants don’t collect enough of these metals to make the extraction commercially viable. That’s where a French biotech startup called “Genomines” comes in.
Genomine’s relies on biologically engineered plants it calls “hyperaccumulators.” These plants naturally pull metals and minerals out from the soil they’re planted in through their roots, and store it in their stems and leaves, where Genomine can harvest it later.
“It’s important because we need a lot of metal, especially for the energy transition in batteries in electric vehicles,” Fabien Koutchekian, co-founder and CEO of Genomines, told Fast Company. “Not only in batteries, but [nickel is] widely used in stainless steel as part of infrastructure. The problem is that with current traditional mining methods, we will not be able to produce enough.”
Genomines predicts that hitting the 2040 goals set out by the Paris Agreement to transition all the world’s cars to electric vehicles will require six (6) times today’s global metal output and a significant number of new, potentially destructive mining operations.
That’s bad.
More farms, fewer mines
Not only are mining operations generally destructive, they often accompany (if not cause) a number of human rights issues as they get to work. “Indigenous Peoples and rural communities are paying a heavy price for the world’s scramble for energy transition minerals,” explains Veronica Cabe, Chair of Amnesty International, Philippines. “Not only did these communities undergo seriously flawed consultation processes – blighted by misrepresentations and a lack of information – they are now being forced to endure the negative impacts of these mining operations on their health, livelihoods and access to clean water.”
Genomines thinks its high-performance custom daisies could avoid this sort of environmental and cultural harm. They’ve convinced investors of that, too, to the tune of more than $45 million from a group that includes Hyundai and Jaguar and Land Rover parent company Tata.
“Our mission is to harness plant biotechnology to extract resources essential for clean energy technology via scalable processes that preserve biodiversity, soil health and human well-being,” explains Koutchekian. “Our vision is to create an entirely new industry of plant-based metals. Genomines unlocks a scalable new resource base – we can fundamentally rebalance global mineral supply chains for decades to come.”
Genomines says its methods are not only scalable, but offer a number of additional benefits over conventional mineral mining:
- Transformation of non-productive land into economic assets, operating in areas that are too low-grade to mine traditionally, but too metal rich to farm
- Quickly deployable farms, operationalizing an asset in 1-2 years versus 12-17 years for traditional nickel mines
- Cleaner more traceable extraction, while maintaining 40-50% lower equipment and operational costs as a result of biomass farming
- Scalable modularly, deploying smaller, capital-efficient assets at profitable rates, rather than relying on the large, capex-intensive mines of traditional industry
- Superior sustainability, the hyperaccumulator plants capture carbon as they grow, making the entire process not just carbon neutral, but potentially carbon negative
“Genomines’ technology leverages underutilized assets by extracting nickel from low-concentration soils that don’t compete with traditional agriculture. Coupled with a structural cost advantage, Genomines is well equipped to fundamentally change the way we extract critical metals, and do it in a significantly more sustainable manner,” says Alex Hoffmann, General Partner at VC firm Forbion and Genomines investor. “We are excited to be part of the journey and support the team to achieve its ambitious targets.”
Genomines estimates that about 30 to 40 million hectares of land across the globe contain enough nickel for their phytomining processes to prove enough nickel for the world’s EV needs, at 7-14 times the amount currently being mined. While it’s got a long way to go, the company currently employs 23 full time staff that are making real progress at their South African site, with many more soon to come.
That’s good.
SOURCES: Genomines; via Business Insider, Good Good Good, SingularityHub.
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Peak Energy just switched on a 3.5 MWh sodium-ion battery, the largest energy storage project developed in the US. The system is the first of its kind at grid scale, and may eventually be a game-changer for delivering affordable energy in the US.
Sodium-ion batteries work well in hot or cold weather without auxiliary cooling systems. That makes them cheaper and easier to maintain, especially for utility-scale projects. They also use more abundant materials. The US holds the world’s largest soda ash reserves, a key sodium-ion ingredient, and the whole raw material supply chain can be sourced domestically or from allied countries.
The Burlingame, California-based energy storage company’s technology is designed to slash lifetime project costs, which could make a real difference as electric bills keep rising nationwide. With US household energy costs projected to climb as much as 18% in the next few years, utilities are looking for cheaper ways to meet demand. Peak Energy’s design eliminates active cooling, reduces moving parts, and cuts battery degradation by 33% over a 20-year lifespan — saving more than $100 million over a project’s lifetime.
“Storage is critical to solving America’s dual energy crises of affordability and availability,” said Landon Mossburg, Peak Energy’s CEO and cofounder. “With the lowest operating cost of any storage system in the market today, Peak Energy is proud to have developed a ready-to-deploy answer to energy affordability.”
Peak Energy’s sodium-ion phosphate pyrophosphate (NFPP) battery storage system was unveiled in July and is now running at the Solar Technology Acceleration Center (SolarTac) in Watkins, Colorado. It’s being operated in partnership with nine utilities and independent power producers, which makes it the US’s largest energy storage project. Peak Energy will gather real-world data on the battery’s performance and share it across participating utilities. Commercial-scale projects are expected to launch in 2027.
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