EVs In The Land Of Oil? Ford Plans Middle East EV Roll Out In 2024: Report

Ford Motor Co F reportedly plans to launch its first electric vehicle in the Middle East in 2024.
The managing director of Ford Middle East and Africa, Chris Noel, said the auto major will launch EV models to the six Persian Gulf countries first, reported Bloomberg.
He accepted that manufacturing hurdles had prevented the company from an earlier EV introduction.
"We just don't have the manufacturing capacity," the report cited Noel.
"We can't build them fast enough to bring them to the market, which is why it's so critical that we get this new capacity on the street."
The main challenge for automakers in the gulf region is tackling high temperatures and dust that can clog the parts.
"Lithium battery packs don't like the heat, particularly not excessive heat, and so we've got to make sure that they're cooled and operated properly in this environment," said Noel.
Also Read: Ford Refers BlueOval City As The 'Blueprint' For Its Electric Future; Says On Track With Construction
Price Action: F shares are trading higher by 1.68% at $11.80 on the last check Wednesday.