Ford has announced plans to invest $2bn in overhauling one of its US sites, part of its push to produce affordable electric vehicles that can better compete with Chinese rivals.
The company said it would use a “new universal EV platform” to produce a midsize, four-door electric pick-up, with a price tag starting from about $30,000. The chassis would be subsequently rolled out across “a family of affordable vehicles to be produced at scale for customers”, it added.
Ford’s announcement comes at a crucial time for EV makers. US groups, already facing strong competition from lower cost Chinese rivals such as BYD, have been grappling with President Donald Trump’s tariffs and the ending of policies favourable to electric cars.
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