Ford has thrown down a gauntlet to Tesla by touting its upcoming range of cheap electric cars, as both companies grapple with slowing demand for EVs.
CEO Jim Farley confirmed in Ford’s Q1 earnings call that the company is working on new affordable EVs that could be priced as low as $25,000 to $30,000, after Elon Musk vowed to accelerate Tesla’s affordable EV plansearlier this week.
“Increasingly, our bet will be on our new small affordable platform developed by our team on the West Coast,” said Farley.
Farley told investors he believes Ford can build an EV priced between $25,000 to $30,000 that is profitable, describing it as a “huge opportunity” for the company.
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