According to Farley, its next-generation EVs would “be affordable for most Americans, in addition to being profitable.”
Ford’s upcoming electric vehicle lineup will be “competitive with the best in the business,” according to Farley. Furthermore, Ford now thinks China is the source of such EVs.
Ford wants to duplicate some of China’s strategic “bet on EVs” success on US territory, Farley stated in an interview with Yahoo Finance, adding that the gamble has “paid off so far.”
Earlier this year, Farley disclosed that Ford was “secretly” developing a smaller EV architecture to support more reasonably priced cars. In addition, Ford is postponing its bigger three-row electric SUV in favour of the smaller EV models.
To create the new platform, Farley said Ford assembled a tiny “skunk works team with some of the best EV engineers in the world.”
The crew, which is “filled with a lot of Tesla and Apple people,” is changing course at the +120-year-old carmaker.
“They are engineering an entirely different approach, a different product at a different cost with a much smaller battery and different chemistry,” Farley stated.