Ford to undercut Tesla Model 3 with new affordable EV

2 July 2024, 12:25 pm

Fleet Auto News
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AutoExec Summary
Ford is developing a US$30,000 electric vehicle (EV) expected to be available in US showrooms by 2027. CEO Jim Farley revealed that the affordable EV will be a smaller car, undercutting the Tesla Model 3. Ford plans to focus on smaller, more affordable EVs to improve profitability in the EV sector. The manufacturer is expecting significant losses on battery-powered models in the coming years. Ford is prioritizing the introduction of entry-level EVs to compete with global rivals and ensure a profitable electric portfolio.

Brands mentioned: Ford, Tesla, Volkswagen

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