In this article F Follow your favorite stocks CREATE FREE ACCOUNTA banner advertises the Ford Mustang Mach-E electric vehicle at a Ford dealership on August 21, 2024 in Glendale, California.
So it might surprise investors that the automaker believes its new path to profitability for electric vehicles will first be led by smaller, more affordable vehicles.
"We're quite convinced that the highest adoption rates for electric vehicles will be in the affordable segment on the lower size-end of the range," he told CNBC on Thursday.
Gjaja's comments come a day after the automaker announced updates to its EV strategy that will cost up to $1.9 billion.
He said the Ford, in part, developed the "skunkworks" team to prove that Ford can compete against the Chinese automakers.
Persons:
Mario Tama, Marin Gjaja, Warren Buffett, Gjaja, Jim Farley, Farley, Ford, BofA's John Murphy, John Lawler, Lawler, There's, we've, Michael Wayland
Organizations:
Ford, Getty, DETROIT, CNBC, North America, EV, Wall Street, GM, General Motors
Locations:
Glendale , California, U.S, Europe, North, California, China