Ford is focusing on small, affordable electric cars instead of big electric SUVs and trucks.
Ford CEO Jim Farley is rethinking the automaker’s approach to electrification in a major way. On Wednesday, Farley said Ford needs to focus on offering small, inexpensive electric vehicles to consumers going forward—not big, battery-powered trucks. It’s a rather stunning admission from a company whose identity is deeply tied up in selling big pickup trucks. As Farley explains it, the shift to EVs has flipped the car business on its head.
By contrast, some 750,000 customers snapped up gas-powered Ford trucks in 2023.
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