Ford to use Renault technology, plants for cheaper European EVs to fend off Chinese rivals [Yahoo! Finance Canada]
RENAULT SA UNSP/ADR (RNLSY)
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Source: Yahoo! Finance Canada
"We know we're in a fight for our lives in our industry," Ford CEO Jim Farley ?told reporters in Paris on 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. 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 U.S. market and fill a gap in the automaker's lineup, Farley said. The two automakers will also ?jointly develop Renault and Ford brand vans for ?Europe. A POWERHOUSE FOR LIGHT COMMERCIAL 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 Europe, F
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