KEY POINTS

• Ford CEO Jim Farley wants Ford dealers to become the most valuable franchise in the industry, as the company plans to grow sales across its traditional and EV businesses.
• The automaker is asking its nearly 3,000 dealers to invest upward of $1 million for upgrades to sell all-electric vehicles.
• Ford, unlike crosstown rival General Motors, is allowing dealers to opt out of selling EVs and continue to sell the company’s cars.

LAS VEGAS – Ford Motor is asking its nearly 3,000 dealers to invest upward of $1 million in upgrades to sell all-electric vehicles, as the automaker attempts to cut overhead costs and boost profits at its retailers to better align EV-leader Tesla.

Ford is offering its dealers the option to become “EV-certified” under one of two programs — with investments of $500,000 or $1.2 million. Dealers in the higher tier, which carries upfront costs of $900,000, will receive “elite” certification and be allocated more EVs, executives said.