Ford teams up with Renault to make EVs that can rival Chinese brands
2 days ago
- #Partnership
- #Electric Vehicles
- #Automotive Industry
- Renault and Ford are partnering to develop small, cheaper Ford-branded electric vehicles for Europe to compete with Chinese automakers.
- The first of two planned small EVs will be produced at a Renault plant in France and available in European showrooms by 2028.
- The partnership also includes joint development of Renault and Ford brand vans for the European market.
- Ford's CEO Jim Farley emphasized the need to compete with Chinese rivals, calling the collaboration a 'powerhouse' for light commercial vehicles (LCV).
- Renault CEO Francois Provost highlighted the urgency to act before Chinese competitors expand further in Europe.
- Ford's European market share has declined from 6.1% in 2019 to 3.3% in 2023 due to restructuring and reduced passenger vehicle sales.
- The partnership leverages Renault’s EV platforms with Ford’s designs to compete against Volkswagen and Chinese automakers.
- Renault, Europe’s smallest mainstream automaker, aims to lower costs and increase manufacturing scale through partnerships.
- Renault is also collaborating with China’s Geely and in talks with Chery for joint production and sales.
- The goal is to produce EVs in Europe as competitively as Chinese manufacturers.