Ford to take on Tesla, BYD with cheap electric car

AutoExec Summary
Ford is developing a smaller and cheaper electric vehicle platform to compete with Tesla and Chinese rivals. CEO Jim Farley announced the development of a flexible platform for multiple vehicle types, with a focus on cost and efficiency. Ford sold 72,608 EVs in the US in 2023, with plans to launch electric versions of the Puma and two SUVs in Europe. In Australia, Ford currently sells the E-Transit and Mustang Mach-E, with the electric Puma set to arrive this year.

Brands mentioned: Ford, Tesla, Volkswagen, JMC.