In the Electric and Autonomous Vehicles Market, Ford Motor Company Has Carried Out Ambitious Expansion Plans as It Strives to Battle Tesla.
The automaker is spending US$29 billion in space, which corresponds to a net loss of US$2.8 billion for the fourth quarter.
The carmaker was determined to spend a total of $11.5 billion on its plans for electric vehicles.
It has now agreed, however, that amount, and extend its timeline of electrifying the vehicles in 2025.
With US$44bn Ford overshadowed by Elon’s US$805bn behemoths, Tesla has excelled Ford to become the world’s ‘biggest’ motor company which reflects that this is shaping up to be a battle for the future of the vehicle market.
The Ford Motor Company has chosen not to follow plans to begin an EV joint venture with Zotye Automobile of China, although it agreed last week to start producing its all-electric Mustang Mach-E model through a joint venture with Chongqing Changan Automobile.