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The Independent UK

National

Via AP news wire

Ford CEO sees electric vehicle price war as EV costs decline

Ford Jim Farley electric vehicle Michelle Krebs Tesla Inc.

Copyright 2021 The Associated Press. All Rights Reserved.

Ford's chief executive says he expects the cost of building electric vehicles to fall to the point that in coming years automakers will be battling each other for sales of EVs priced around $25,000.

CEO Jim Farley told the Bernstein Strategic Decisions Conference on Wednesday that the $25,000 price tag will democratize EVs. Materials to build that vehicle will cost around $18,000, he said.

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