After Ford announced a new EV strategy, they are developing a cost-effective EV car platform, without revealing too many details yet. According to Bloomberg Businessweek, Ford’s EV team in Irvine, California, consists of around 100 employees, led by Alan Clarke, former head of the team that developed the Tesla Model Y, who joined Ford about 2 years ago. This team is currently working on an EV car platform that can be used for small SUVs, compact trucks, and possibly even ride-hailing cars, utilizing lithium iron phosphate batteries that are approximately 30% cheaper than current lithium-ion batteries. The EV cars developed from this new platform are expected to start at around $25,000, allowing Ford to compete with EV cars from China while still turning a profit. It is anticipated to enter the market by late 2026.
On the other hand, Tesla is also working on a new affordable car model (jokingly referred to as the Model 2 in the industry, smaller than the Model 3), although they have not disclosed a release date yet.
Source: Bloomberg
TLDR: Ford is developing a cost-effective EV car platform to compete with Chinese EV cars, while Tesla is also working on a cheaper car model.
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