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Ford eyes BYD batteries for hybrids amid EV slowdown
15 Jan
Summary
- Ford is reportedly in talks with BYD for hybrid vehicle batteries.
- The move comes as automakers scale back EV plans.
- Ford faced a $19.5 billion writedown on EV models.
Ford is reportedly in negotiations with BYD, a prominent Chinese electric vehicle manufacturer, to potentially acquire batteries for its upcoming hybrid vehicle lineup. This development surfaces as the automotive industry witnesses a slowdown in demand for fully electric vehicles, prompting a strategic re-evaluation by major players.
The discussions between Ford and BYD aim to secure access to more affordable batteries and cutting-edge technology. This aligns with a broader trend among North American automakers who are scaling back ambitious EV expansion plans. These companies are navigating challenges such as intense competition from Chinese manufacturers and reduced government incentives, leading them to refocus on hybrid models and more budget-friendly options.
This potential collaboration follows Ford's significant announcement in December regarding a $19.5 billion writedown and the discontinuation of several EV models. The automaker's exploration of BYD's battery capabilities underscores a pragmatic approach to the changing market dynamics, prioritizing efficiency and technological advancement in its vehicle development.
