Ford will have a profitable $30k EV ready in about 2.5 years, CNBC reports. CEO Jim Farley says Americans need to fall back in love with smaller cars to help the transition to electric power. Farley also said Ford had to make profitable EVs within five years or risk being battered by the Chinese. Ford CEO Jim Farley claims the automaker will launch a $30k EV by the start of 2027, and make of profit on it.
“We are just in love with these monster vehicles, and I love them too, but it’s a major issue with weight.” Ford is prioritizing making small EVs because it didn’t make financial sense to electrify huge ones, Farley explained. “You have to make a radical change…to get to a profitable EV. The first thing we have to do is really put all of our capital toward smaller, more affordable EVs,” the Blue Oval chief said. “That’s the duty cycle that we’ve now found that really matches.