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Ford CEO says a profitable $30,000 EV is coming in two and a half years

·1 min

Ford Motor plans to introduce a profitable $30,000 all-electric vehicle in about two and a half years, according to CEO Jim Farley. The vehicle, being developed by a Ford “skunkworks” team, will primarily compete with Chinese automakers and an anticipated entry-level car from Tesla. Ford is prioritizing smaller EVs over larger trucks and SUVs, which Farley believes will not be profitable due to the high cost of batteries. Farley emphasized the importance of making profitable EVs in the next five years to compete with Chinese automakers and maintain global presence.