Ford's Secretive EV Skunkworks Team Boosts Stock and Profit Potential
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.