Ford Paid Almost $200,000 for its Own Tesla Model X P90D

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Ford bought its own Tesla Model X electric SUV for $199,950, according to a new report. The Blue Oval bought the vehicle second-hand for $55,000 above sticker.

The white Tesla Model X P90D Founders Series has been spotted in the Detroit metro area with Michigan plates. According to Bloomberg, the vehicle’s license plates show that it was purchased by Ford on March 1 and is the 64th model produced according to its VIN. The original owner is said to be a California coin dealer who immediately sold it to a dealer in Chicago. Records show that Ford bought the Model X from Corporate Auto of Auburn Hills, Mich.

“It is a common industry practice among many automakers to buy production vehicles for testing as soon as they are released,” Ford said in a statement. “Sometimes, this means automakers pay more than sticker price to acquire them as quickly as possible.”

Total vehicle price after Michigan sales tax and title is estimated to be nearly $212,000. The first 100 Model X SUVs built are part of the limited-edition Founder Series, which will be followed by the Signature Series models. Original pricing for the Tesla Model X P90D Founders Series is $144,950, including the $10,000 Ludicrous Speed Upgrade.

While it isn’t uncommon for automakers to purchase competitor vehicles to study technology and manufacturing techniques, it’s less common for them to pay that much over sticker.

With the upcoming federal mandate for a corporate fleet average of 54.5 mpg by 2025, automakers are working overtime to increase fuel economy and develop EVs. Ford is reportedly investing $4.5 billion in EV research to bring 13 EV and hybrid vehicles to showrooms by 2020. In an earlier report, Ford’s director of electrification and engineering programs Kevin Layden suggested it would be a while before the automaker produces an EV with more than a 200-mile range. He did say, however, that the 2017 Ford Focus Electric will get a range increase from 76 miles to 100 miles.

In our testing, a Model X P90D with Ludicrous Speed hit 60 mph in 3.2 seconds and cleared the quarter mile in 11.7 seconds at 116.0 mph making it the fastest SUV we have ever tested.

Source: Bloomberg