I would prefer that Ford and GM not do this... I don't see how producing a $250,000 car will help the common folk, which is who Ford and GM serves.
Tesla had first mover advantage with their Model 3 and now they are floundering. GM's Chevy Bolt is out producing and out selling the Model 3 despite first movers advantage and all the 'good will' Tesla generated... Despite people saying 'GM could never do this'.
I also don't know why you would say Ford or GM couldn't do it when they produce vehicles that race in Nascar and have R&D for that sport.
Ford and GM are mature companies and expected to actually make money, while Tesla is expected to make good will and headlines.
I'll be more excited when Tesla meets their originally projected production numbers.
People underestimating the big players and cars aren't thinking about the economics right. Ford markets are almost two orders of magnitude more than Tesla is producing. If Ford sees the global opportunity to sell 10-20 million EVs a year they'll build the crap out of them.
I am never doing anything that gives them my money again.
Source: [ashamed] owner of Ford for 3+ years.
I think this is the one. http://fordpowershiftlawsuit.com/
Also, GM and Ford do highly profitable business with the wealthy - Ford pickups are the most owned vehicle among millionaires and Cadillac keeps turning profits that Musk should envy.
It's based on the semi truck. They didn't announce reservations for it or anything. It might be fair to call it a concept truck at this time, but I doubt it's the last we'll see of it.