c
Vancouverairing now
91.5 FM
|
91.5 HD2
airing nowConnect FM 101.7 Edmonton
airing now
8.85 c
Edmonton
airing now|
91.5 FM
91.5 HD2
Connect FM 101.7 Edmonton
NewsShowsAboutCareersAdvertisers
Back to News

Ford CEO sees electric vehicle price war as EV costs decline

BY THE CANADIAN PRESS, Jun 1, 2022 7:05 PM - REPORT AN ERROR

Ford's chief executive says the global auto industry is headed for a huge price war in the coming years as electric vehicle costs drop and companies sell EVs priced around $25,000.

CEO Jim Farley told the Bernstein Strategic Decisions Conference on Wednesday that the $25,000 electric vehicle will democratize EVs.

Currently it costs way more to build an EV than one with a gas engine. But Farley said big cost reductions are coming with new battery chemistries that use fewer precious metals such as nickel and cobalt. Plus, he said EVs will take less time and labor to build, saving more money. Ford also plans to cut distribution and advertising costs.

Latest News

Alleged Quebec cop killer was on probation, had history of mental health problems

A Quebec man accused of killing a provincial police officer had a history of mental health issues and had been found not criminally responsible at least five times for past offences.Isaac Brouillard Lessard, 35, was shot dead by p...

Vancouver archdiocese and private school deny wrongdoing, sue alleged abusers

The Archdiocese of Vancouver and a private Catholic school have denied wrongdoing over claims of sexual abuse from ...

Quebec police conduct anti-drug trafficking raids targeting Hells Angels, Mafia

Several police forces across Quebec are participating in joint anti-drug trafficking raids across the province targ...

B.C. plans family law changes to decide who gets the pets when couples split

The important role pets play in families who are separating is being addressed in proposed amendments to British Co...

Walmart Canada CEO says retailer not trying to profit from inflation

The president and CEO of Walmart Canada says the retail giant is not attempting to profit from soaring food inflati...

B.C. to announce plan for access to diabetes drug Ozempic, hyped for weight loss

British Columbia's health minister plans to announce how the government will ensure patients in the province will h...

Provincial police officer killed during attempted arrest northeast of Montreal

Quebec Provincial Police Chief Inspector Patrice Cardinal says the officer who was killed last night in the line of...

Man charged with murder following stabbing outside Vancouver coffee shop

A 32-year-old man has been charged with second-degree murder following a fatal stabbing outside a Vancouver Starbuc...

B.C. tribunal orders $9,755 payout to taxi driver over caste-based discrimination

The British Columbia Human Rights Tribunal has ordered that a taxi driver be paid more than $9,000 in compensation ...

Police: Nashville school shooting suspect was former student

Authorities say they believe the 28-year-old female shooter who killed three children and three adults at a private...

Share on

Related News

Police: Nashville school shooting suspect was former student

Authorities say they believe the 28-year-old female shooter who killed three children and three adults at a private Chri...

Trudeau government mum on Japan's invitation to rejoin global timber treaty

The federal Liberal government has yet to respond to a months-old invitation from Tokyo to have Canada rejoin a global e...

Ukraine appeals to Canada's rail manufacturers to repair war-damaged lifeline

Ukraine wants Canada to lend its expertise and donate crucial railway parts to keep its embattled passenger and cargo ra...

Sign up for the newsletter
We'll deliver best of entertainment right into your inbox
We love to hear from our listeners, so feel free to send us message
whatsUp icon
Message us on whatsapp