Ford plans to scale back future investments in China, as the US carmaker’s chief executive warned there was “no guarantee” western carmakers can win against local electric-vehicle rivals.
The company will “put less capital as risk” by focusing on commercial vehicles such as delivery vans, and will instead use the market as a “listening post” to help it better understand battery technology, Jim Farley told the Financial Times.
“If you just reinvest in a new cycle of EVs in China, there is no guarantee, or no data, that would suggest the western companies win,” Farley said.
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