Electric vehicles may not reach cost parity with internal combustion engine vehicles until after 2030, Ford Chief Executive Jim Farley said on Wednesday.
Ford Motor Company's Chief Executive Jim Farley speaks with analysts at Ford's Capital Markets Day, Dearborn, Michigan, U.S., May 22, 2023. REUTERS/Joseph White/
Between 2030 and 2035, Farley added, much of the EV cost savings will come from "dramatically lower labor content" because the vehicles will be simpler to build with fewer parts, and will be fitted with smaller batteries that use cheaper materials. Farley said Ford's software services business now has 600,000 subscribers, triple the number of a year ago.
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