Ford's Secretive EV Skunkworks Team Boosts Stock and Profit Potential
TL;DR Summary
Ford has quietly assembled a "skunkworks" team over the past two years to focus on creating affordable electric vehicles, led by former Tesla executive Alan Clarke. The team, based in Irvine, California, is developing a flexible platform for low-cost EVs that will also support software and services. Ford aims to compete with Tesla and Chinese automakers in the affordable EV market, with plans for third-generation vehicles following the production of electric truck and SUV models in 2025. The company also emphasizes the increasing role of hybrids in its future, as it adjusts its EV investment strategy in response to slowing demand and dealer concerns.
- Ford quietly created its own “skunkworks” team to develop low-cost electric vehicles The Verge
- Ford is reassessing its EV plans, including vertical battery integration CNBC
- Ford stock pops on earnings, guidance Yahoo Finance
- Ford Could Get 50% More Profit Without EVs The Wall Street Journal
- Ford is building a low-cost EV platform with some of the 'best EV engineers' to rival Tesla Electrek
Reading Insights
Total Reads
0
Unique Readers
1
Time Saved
2 min
vs 3 min read
Condensed
79%
499 → 104 words
Want the full story? Read the original article
Read on The Verge