Connect with us

Hi, what are you looking for?

Contribution AmericansContribution Americans

Tech News

Ford quietly created its own ‘skunkworks’ team to develop low-cost electric vehicles

Ford logo
Illustration by Alex Castro / The Verge

Ford created a “skunkworks” lab two years ago with the mission of developing affordable electric vehicles, the company’s CEO said in an earnings call Tuesday. The team is being led by Alan Clarke, who worked at Tesla for 12 years before joining Ford as executive director of advanced EV development, according to TechCrunch.

Ford, like other global automakers, is scrambling to perfect the formula for profitable electric vehicles. The company’s Model e unit, which oversees EVs and software products, reported a loss of $1.6 billion in the last quarter of 2023. Ford said it would slow the pace of money it was spending on EVs in order to better match customer demand.

But the revelation of a skunkworks lab working on low-cost EVs proves that…

Continue reading…

You May Also Like

Editor's Pick

On this week’s edition of StockCharts TV‘s StockCharts in Focus, Grayson discusses the most important chart on all of StockCharts – your default ChartStyle! In addition...

Tech News

Illustration by Alex Castro / The Verge Tesla is going to court next week over the role its Autopilot system played in a fatal...

Editor's Pick

Over the previous week, the markets were expected to inch higher; however, at the same time, while it was expected that incremental highs may...

Editor's Pick

Now that earnings season has begun, what can you expect the stock market to do, especially after its stellar Q1 run? Well, after a...