CEO of Ford Jim Farley has revealed that the company developed
a “skunkworks” lab two years ago – a start-up separate from the Ford
mothership, which is aimed at producing electric vehicles at affordable prices.
The lab’s team is being led by Alan Clarke, executive director of advanced EV
development at Ford.
In 2023, Ford reported a loss of $1.6 billion and announced that it would reduce its expenditure on EVs, so it could fulfil customers’ needs in a better way. However, the current news of Ford’s experimentations with low-cost EVs suggests that the company is still adamant on competing with Tesla and other EV automakers like BYD.