Ford Says Upcoming Budget EV Platform Will Rival Chinese EV Prices: Report

Ford Motor Co. F says that its new affordable EV platform will match up to its Chinese counterparts on cost.

What Happened: Lisa Drake, Ford's Vice President for EVs Systems and Platform Programs, shared some insight into the Detroit-based automaker's EV plans with Bernstein analyst Daniel Roeska, Axiom reported on Wednesday.

"Ford intends to match the cost structure of leading Chinese players. That means not just battery pricing, but full system cost from chassis and thermal systems to inverters and electronics," Roeska wrote. The report also gives a 2027 due date for the EV.

The analyst also said that the new platform will support over 8 body styles, including pickups, sedans and crossovers. "With eight body styles and potential global applicability, it’s intended to underpin Ford’s EV strategy for much of the next decade," Roeska said.

The company plans on using Prismatic LFP batteries, built in collaboration with Chinese battery giant CATL or Contemporary Amperex Technology Ltd. However, the batteries will be produced in the U.S., the report suggests.

Why It Matters: The news comes in as Ford reportedly opened its doors for Nissan to use the company's flagship EV battery production plant in Kentucky, amid a projected $5.5 billion loss on EVs in 2025.

The company has said that U.S. President Donald Trump's tariffs would cost them over $1.5 billion, with company executive chair Bill Ford also expressing concern about the GOP's proposal to axe the $7500 EV credit.

The company also hiked prices of some of its Mexico-produced EVs, including the Mustang Mach-E, Bronco Sport and Maverick Pickup truck. It's worth noting that Ford produces over 80% of its vehicles domestically.

Elsewhere, the company had recently issued a recall for the Mustang Mach-E as well as the F150 Lightning EV pickup truck over a rear seat occupant and suspension issue, respectively.

Ford scores well on Value, Quality and Growth metrics, while offering satisfactory Momentum. For more such insights, sign up for Benzinga Edge Stock Rankings today!

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