Elon Musk started a trend late last year when he slashed prices on Tesla EVs in China. Ford has followed with its own EV discounts in the country this year, but is now upping the stakes by cutting its operational costs in China in a bid to stay cost-competitive in the country’s key car market.
Ford is working to reduce costs across its Chinese operations, a decision the automaker says is “necessary for us to build a healthier and more sustainable business in China,” according to a statement to Fortune on Monday.
