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Report: Ford's EV Skunkworks Team to Create Three Affordable Electric Models

The Truth About Cars

A few weeks ago, Ford announced that it had created an internal skunkworks team to focus on affordable EVs and a new platform to underpin them. Ford is also expected to build an EV for ridesharing services, and Bloomberg reported that Ford has fewer than 100 people working on the project. All automakers in the U.S.

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Ford doubles down on EVs despite heavy losses in Q1

Teslarati

Ford is doubling down on electric vehicles (EVs) despite the fact that its Model e unit reported heavy losses in the first quarter. Ford’s EV unit, called the Model e, reported plunged revenues of up to 84% to nearly $100 million in the first quarters. Ford aims to price its next EV around $25,000 to $30,000.

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Ford Mustang Mach-E price cuts are proving affordable EVs are in demand

Baua Electric

Ford is moving inventory after slashing prices by up to $8,100 on its best-selling electric SUV, the Mustang Mach-E , last month. A recent Cloud Theory report reveals that the price cuts are working as buyers look for more affordable EVs. In February, sales of the electric SUV surged 64% year over year. billion last year.

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Ford reveals CEO Jim Farley’s latest pay raise

Teslarati

A recent filing has revealed Ford CEO Jim Farley’s latest pay increase, with his total compensation increasing by as much as 26 percent in 2023. Securities and Exchange Commission (SEC) last week, Ford revealed that CEO Jim Farley’s total compensation in 2023 was nearly $26.5 In proxy statement filed with the U.S.

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Ford may build its affordable EV platform in this key overseas market to revamp sales

Baua Electric

Amid its shift to more affordable electric vehicles, Ford could build its new EV platform overseas as it looks to revamp sales. Ford mulls affordable EV platform production in India According to a new report from Autocar India , Ford is looking to re-enter India.

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Ford Slashed the Mach-E's Price Tag and Saw an Immediate Uptick in Sales

The Truth About Cars

One factor that is coming into clear focus is pricing, as Ford recently found out with the Mustang Mach-E. In response to flagging demand, the automaker cut prices on the electric SUV and has seen an uptick in sales as a result, showing that cost remains a significant hurdle for many prospective buyers.

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Volkswagen to go solo on affordable EVs after ending talks with Renault

Baua Electric

Volkswagen has ended talks with Renault to launch an affordable EV, according to sources. However, a low-cost Volkswagen electric car is still in the plans. Despite Renault confirming it was in “good discussions” with Volkswagen to build an affordable EV in February, it looks like the automakers may go their separate ways.