Ford Motor Company is making changes to their electric vehicle strategy

Ford CEO Jim Farley said the company will develop vehicles that will compete with lower cost EV's from Tesla and Chinese automakers. Ford lost four-point-seven billion dollars last year on their current EV lineup and projects a loss of five-point-five billion this year. Ford is reducing overall EV investment by 12-billion dollars and increasing the manufacturing of gas powered vehicles which generate profits needed to fund growth.