Ford is going back to its roots to try and sell more EVs.
The Michigan automaker on Monday announced a $5 billion plan to simplify its production of electric vehicles to make assembly faster and easier — similar to how Ford revolutionized the car industry decades ago by creating a moving assembly line to build the company’s iconic Model T.
The moving assembly line helped make the Model T affordable to more consumers, and Ford is betting its new approach to electric vehicles would do the same for the company now. Ford is trying to stave off competition from tech companies and low-cost Chinese cars that are gaining ground in Europe and other parts of the world.
“They’re all coming for us,” said Ford CEO Jim Farley. “We needed a radical approach and a really tough challenge to create an affordable vehicle that delights customers in every way that matters — design and innovation, flexibility, interior space, driving pleasure and lower cost of ownership.”
