Ford CEO Jim Farley recognized the automaker “Fight for our lives in our industry” As it seeks to remain competitive in Europe in the face of competition from Chinese competitors. One of the weapons to counter the threat is a partnership with the French Renault group.
The two automakers announced a deal on Tuesday to bring affordable electric vehicles to the European market by 2028. Ford will lead the design and Renault will assemble the vehicles in northern France. The EVS will be built on Renault’s technology platform known as Ampere.
The company has also agreed to “Explore” to make light commercial vehicles together.
Partnership is part of Ford described as Next phase of European transformation – A plan that aims to make US automakers more and cost efficient in the market with cheaper Chinese vehicles from companies like byd motor and sauce.
“As an American company, we see Europe as the front line in the global transformation of our industry,” Fallley said in a statement. “How we compete here – How we innovate, partner, and invest – will write the PlayBook for the next generation. We are committed to greater speed and efficiency than ever before.”