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Ford is reassessing its EV plans, including vertical battery integration
Ford is rethinking its electric vehicle strategies, including "reassessing" the need for vertical integration of batteries, CEO Jim Farley said Tuesday.
Farley reiterated the company still believes EVs will grow, but noted widespread adoption for mass-market consumers won't happen until the costs are more in line with traditional vehicles. Ford Chief Financial Officer John Lawler said in addition to reassessing the vertical integration in new battery chemistries, the company is further looking into adjusting installed production capacity to match demand and potentially delaying next-generation EVs to "to ensure they meet our criteria for profitability, given the new market reality." Farley reiterated the company still believes EVs will grow, but noted widespread adoption for mass-market consumers won't happen until the costs are more in line with traditional vehicles.
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