Ford CEO Jim Farley reshapes electric vehicle strategy

Ford CEO Jim Farley is changing the company's electric vehicle strategy to produce small and affordable electric models. He said that although Ford has always been known for selling large pickup trucks, in the field of electric vehicles, small cars are the key. This is because large electric vehicles require larger capacity batteries, which will increase costs, and consumers are not willing to pay extra for this. Therefore, Ford is trying to reduce the size of batteries, reduce costs, and thus increase profit margins. Ford's goal is to launch electric vehicles priced below $40,000, or even below $30,000, to meet market demand.