Ford will partner with Renault Group to produce two new electric vehicles for the European market. Renault will manufacture these Ford-branded models at its facilities in northern France. The production will utilize Renault’s Ampere EV platform and ElectriCity infrastructure.
This collaboration aims to increase capital efficiency for Ford’s European electric vehicle operations. The move follows a significant financial write-down within Ford’s EV business.
CEO Jim Farley identified Chinese manufacturers like BYD as leaders in manufacturing cost-effectiveness. Farley noted that Tesla has not updated its vehicle lineup recently. Ford is prioritizing affordability to compete with Chinese EV makers in future development.