Ford's Latest Developments in the EV Segment

Ford is actively enhancing its electric vehicle (EV) offerings with several significant developments The company has introduced an option for all-wheel drive in its compact hybrid pickup, catering to the demands for better handling during the winter months However, EVs still represent a small fraction, only 4%, of Ford's total vehicle sales in the first half of 2024. In a strategic move, Ford's CEO Jim Farley has announced a shift towards smaller, more affordable electric cars This initiative is backed by the development of a new low-cost EV platform in Long Beach, with contributions from former executives of Tesla, Rivian, Lucid, and Apple This platform is set to produce efficient successors to popular models like the Focus and Fiesta, emphasizing affordability and expanding Ford's electric portfolio..