Ford to Collaborate with Renault in Making Affordable EVs
Ford and Renault have announced a new partnership to develop small and affordable electric vehicles (EVs) for the European market. The collaboration also includes plans to produce commercial vans together. The move comes as both automakers face growing competition from Chinese carmakers, who are offering lower-cost EVs in Europe. Ford’s CEO, Jim Farley, described the situation as a “fight for survival” in the automotive industry. He said that cheaper Chinese EVs are a serious threat to traditional automakers in Europe. Renault’s CEO, Francois Provost, agreed and noted that European companies must act quickly to remain competitive. As part of the…