‘A fight for our lives': Ford teams up with Renault to make EVs that can rival Chinese brands [CNN]
RENAULT SA UNSP/ADR (RNLSY)
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Source: CNN
“We know we're in a fight for our lives in our industry,” Ford ( F ) CEO Jim Farley told reporters in Paris Monday ahead of the announcement, when describing Ford's response to the threat posed by cheaper Chinese competition. “There is no better example than here in Europe.” Europe's traditional automakers face an influx of Chinese rivals from BYD to Changan and Xpeng ( XPEV As part of the Ford-Renault partnership , the first of two planned small EVs – to be produced at a Renault plant in northern France – will reach European car showrooms in 2028. They will be smaller than any Ford plans for the US market and fill a gap in the automaker's line-up, Farley said. The two automakers will also jointly develop Renault and Ford brand vans for Europe. A ‘powerhouse' for light commerical vehicles “Together we can create a powerhouse of LCV in Europe that would be very difficult for the Chinese to compete with,” Farley said. Although there are few Chinese brand vans on sale in Eur
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