Ford embraces affordable EVs as Apple drops development

Ford is shifting from making trucks and SUVs to building a small, affordable electric vehicle that competes with Chinese-made models.

Ford CEO Jim Farley told Bloomberg that Ford is working on low-cost EVs to take on Chinese competition and an affordable model that Tesla Inc. says it has coming. Ford photo.

This article was published by The Energy Mix on March 1, 2024.

As Ford pivots from making trucks and SUVs to “the next big thing”, a small, affordable electric vehicle that competes with Chinese-made models, Apple has abandoned its own EV project, citing lagging consumer interest.

“Ford Motor Co. sees low-cost Chinese EVs as a ‘colossal strategic threat’ that will ultimately arrive on United States shores, adding to the challenges for an automaker already confronting shaky consumer demand for plug-in cars,” reports Bloomberg.

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