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Ford retracts in Europe with layoffs and lower EV production
More cuts for Ford in Europe
The news comes as EVs continue to lose momentum in markets around the world, as governments eliminate subsidies and economic headwinds force many automakers to rethink their strategies. The company’s CEO Jim Farley spoke about driving a Xiaomi SU7 for several weeks to learn how the country has cracked the code on cheap EVs. “What we lack in Europe and Germany is an unmistakable, clear policy agenda to advance e-mobility, such as public investments in charging infrastructure, meaningful incentives to help consumers make the shift to electrified vehicles, improving cost competitiveness for manufacturers, and greater flexibility in meeting CO2 compliance targets,” Ford CFO John Lawler said in a statement.
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