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Thursday 8 February 2024

Ford is building a low-cost EV platform with some of the ‘best EV engineers’ to rival Tesla

Ford (F) assembled a “super-talented skunk works team” to build a low-cost EV platform. The small team consisted of “some of the best EV engineers in the world,” according to Ford’s CEO Jim Farley. It will be used to launch several new software-defined electric models.

Following Tuesday’s Q4 and full-year 2023 earnings results, Farley explained that Ford is adjusting its capital while switching gears to focus on smaller EVs.

Ford’s leader said on the company’s earnings call that the company made a bet in silence two years ago to develop a low-cost EV platform. Ford put together a small team with “some of the best EV engineers in the world.” The project was separate from Ford’s main operations.

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