Ford Motor Company (F) has ended a program to develop electrical architecture that was considered pivotal to competing with electric-vehicle manufacturers, such as Tesla (TSLA), Reuters reported, citing three unnamed sources familiar with the matter.
Known internally as FNV4, or fully networked vehicle, the system was designed to streamline vehicle software functions, according to the news report.
Ford's goal in investing in the system was to cut costs, improve quality and add profitable features in both electric and gasoline-powered vehicles, the report added.
Ford did not immediately respond to an out-of-office hours request for comment from MTNewswires.
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