In their endeavor to produce cost-effective electric vehicles (EVs), Ford has constituted a select team of globally acclaimed EV engineers. As reported by CEO Jim Farley, the team's creation resonates with a startup's innovative essence and drive.
Ford's recent quarterly and annual earnings report for 2023 unveiled their strategic shift: reallocating company capital to facilitate the development of more compact, affordable EVs.
The core mission of this team is to create a versatile platform, anticipated to be the launchpad for various software-defined electric models. This initiative is in direct response to competitor companies' similar announcements, presenting an exciting, competitive future for the EV market.
Farley notes that the broader competition is not only from Tesla's affordable range but also from Chinese Original Equipment Manufacturers (OEMs).
Source: Electrek
