Ford CEO Mark Fields states the following to Yahoo Finance's Bianna Golodryga in this video embedded above:

“Clearly we have the capability to create electric vehicles."

“Tesla has done a very good job of bringing electrified cars into the consciousness of the American people."

Tesla’s approach is to cater to a high-end consumer.”

Fields claims that Ford will take a different approach by making sure its electrified vehicles are “attainable to the masses.”

"Attainable to the masses" sure sounds like Tesla's plan with the Model 3, so while Tesla may be focusing on the high-end consumer right now, the future outlook is such that both Ford and Tesla (and other automakers) will all be competing in the same space.

Source: Yahoo Finance