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Why Ford believes its $1.9 billion shift in EV strategy is the right choice for the company, investors - TL;DR CNBC

Why Ford believes its $1.9 billion shift in EV strategy is the right choice for the company, investors

Publishing timestamp: 2024-08-23 13:00:01


Summary

Ford Motor is shifting its focus to smaller, more affordable electric vehicles to compete with Chinese automakers, which will cost the company up to $1.9 billion. This move is seen as an "insurance policy" for Ford to expand its EV business and improve profitability. The decision involves canceling large electric SUVs and delaying production of certain vehicles. Despite the expected costs, investors and analysts have largely supported Ford's EV changes.


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Keywords: business newstesla incbreaking news: businesstransportationgeneral motors coautosbusinesswarren buffettford motor co

Source: https://www.cnbc.com/2024/08/23/ford-ev-strategy-smaller-cars.html


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