Ford dumps EV plans as China competition grows
Aaron Gregg and Maxine Joselow
Aug 22, 2024 – 5.47pm
Washington | Ford is revamping its money-losing electric vehicle business, retreating from some plans for all-electric vehicles and instead prioritising the development of hybrid technology, the automaker announced on Wednesday (Thursday AEST).
The announcement underscores the challenges facing US automakers as they seek to boost sales of EVs, a crucial technology in the fight against climate change, despite flagging consumer demand, supply chain challenges and increased competition with Chinese carmakers.
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