Ford Will Focus On Smaller, Affordable EVs Even If Trump Wins Presidential Elections, Says CEO Jim Farley
Portfolio Pulse from Anan Ashraf
Ford Motor Co. (NYSE:F) will focus on smaller, affordable electric vehicles (EVs) even if former President Donald Trump wins the 2024 presidential elections. CEO Jim Farley emphasized that larger EVs exert more pressure on margins and that the company aims to develop EVs priced under $40,000 or even $30,000. Despite a $1.14 billion EBIT loss in the second quarter for its EV segment, Ford remains committed to its EV strategy, aiming to be competitive with Chinese manufacturers and Tesla.
July 25, 2024 | 12:23 pm
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Ford will focus on smaller, affordable EVs even if Trump wins the 2024 elections. Despite a $1.14 billion EBIT loss in Q2 for its EV segment, Ford aims to develop EVs priced under $40,000 or even $30,000, positioning itself against Chinese manufacturers and Tesla.
Ford's commitment to smaller, affordable EVs could position it well in the market, especially against Chinese manufacturers and Tesla. Despite short-term losses, the long-term strategy could attract cost-conscious consumers, potentially boosting sales and market share.
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