2024-02-08 15:12:26 ET
Summary
- Ford aims for profitability in the first 12 months of launching its next generation of battery electric vehicles (BEVs).
- The automaker plans to invest less capital in large BEVs and focus on geographies and product segments where it has a dominant advantage, such as trucks and vans.
- Ford is adjusting its capital to be more focused on smaller EV products and is testing fuel cell feasibility for commercial vehicles in the UK.
Ford Motor Company (F) has been contending with what its CEO describes as a “seismic change” in the BEV market over the past six months. The cause? A 20% collapse in BEV prices around the world precipitated by mismatched consumer demand against “a ton of new capacity into one single segment, two-row ((BEV)) crossovers.”...
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For further details see:
Ford Battery-Electric Strategy In Flux With Disclosure Of Tesla Model 2 Competitor