Ford’s CEO Jim Farley admitted he was humbled after tearing down the first Tesla and Chinese EVs. If it wants to compete globally, Ford can’t walk away from EVs altogether, so it’s planning to shake things up.
After taking apart a Tesla Model 3 and several electric vehicles from China for the first time, Farley said he was “very humbled” during a new episode of the Office Hours: Business Edition podcast.
The “shocking” revelation is what pushed Ford to overhaul its EV program. Ford is shifting its focus to smaller, more affordable EVs, which require smaller batteries and fewer materials.
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