Ford Chief Executive Jim Farley said on Thursday the automaker is reworking its electric vehicle strategy to compete with Chinese rivals, and opened the door to collaboration with other automakers to cut EV battery costs. BYD and other low-cost Chinese electric vehicle makers are now one of the biggest challenges to Ford's global business, Farley said at a conference hosted by Wolfe Research. Ford has launched a dedicated "skunk works" team – separated from the company's main engineering operations – to design a small, low-cost EV that could compete with BYD's Seagull model, the CEO said.
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