Ford will introduce five new electrified models priced under $55,000 by 2030. This strategic move aims to counter the rapid global expansion of Chinese automakers including BYD, Chery, and Leapmotor.
Automotive News reports the plan includes the development of new electric utes and SUVs. These models will serve as affordable alternatives to challenge the increasing market share of Chinese manufacturers.
Ford is adapting its manufacturing approach to match the cost-effective production methods used by its new rivals. The initiative signals a shift in strategy to compete directly on price within the evolving electric vehicle sector.