Ford has signalled that it will back away from competing with EV giants such as BYD and Tesla for its second generation of EVs, due from 2025, as it targets more profitable niches in response to an increasingly crowded field.
Ford CEO Jim Farley told analysts at the American giant’s recent capital markets day that it saw in advance how tough the five-seat electric SUV market was going to be.
“If your EV strategy depends on a two-row crossover right now, you better have the [low] cost of BYD to compete,” he said.