Ford CEO says a profitable $30,000 EV is coming in two and a half years [CNBC]
Ford Motor Company (F)
Last ford motor company earnings: 4/28 04:09 pm
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Source: CNBC
Farley did not release many other details about the vehicle, which is being developed by a Ford “skunkworks” team, but said its main competitors are expected to be Chinese automakers such as BYD and an anticipated entry-level car from U.S. EV leader Tesla Farley said Ford is first focusing on smaller EVs instead of larger all-electric trucks and SUVs, which have historically been gas-powered profit engines for the company, because such vehicles are “never going to make money.” “You have to make a radical change as an [automaker] to get to a profitable EV. The first thing we have to do is really put all of our capital towards smaller, more affordable EVs,” Farley said during an interview with CNBC's Julia Boorstin . “That's the duty cycle that we've now found that really matches. These big, huge, enormous EVs, they're never going to make money. The battery is $50,000 ... The batteries will never be affordable.” A Ford spokesman later clarified Farley was referring to large vehic
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