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Ford Knows It Can’t Compete With Porsche and Tesla; More Affordable EVs Coming

Ford is the world’s fifth-largest automaker and there is a reason behind it. One can argue the company’s strategic moves over the years, but there’s no denying that Ford knows what it’s doing. Now with the world moving towards electrification, Ford has decided to pick its battles carefully and position itself as more of an affordable EV maker than a premium one that sells cars with six-digit price tags.

The company’s CEO, Jim Farley, has promised that Ford will be making electric vehicles starting from as low as $20,000 and not go past the $70,000 bracket. It looks like Ford is going for volume over profits in this segment. Is it a smart move?