Market Chatter: Ford Targets $30,000 EV With Smaller Battery

MT Newswires Live

Feb 18

Ford Motor (F) is aiming to launch a new budget electric vehicle starting at about $30,000, in part by shrinking the battery size and improving its electrical efficiency, Bloomberg reported Tuesday.

Ford is developing the new line on a "universal electric vehicle" platform, with the program targeting fewer parts and faster build times, the report said.

The new EV is designed to be lighter, more aerodynamic and electrically efficient, with a driving range extended by about 50 miles, according to the report.

"This is how we will compete and win against China and the rest of the world," Ford CEO Jim Farley said in a post on X on Tuesday.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 14.05, Change: -0.07, Percent Change: -0.50

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