砸下50亿美元，福特谋翻盘

Core Viewpoint - Ford is shifting its strategy to focus on affordable electric vehicles (EVs) due to significant losses in its EV business, planning to launch a new series of budget EVs by 2027, including a mid-size electric pickup truck with a target starting price of around $30,000 [2][3][5]. Group 1: Financial Performance and Strategy - Ford's EV division has faced substantial losses since its independent operation in 2022, with projected losses of nearly $5.1 billion in 2024, an increase from $4.7 billion in 2023, and a forecast of continued losses of $5 to $5.5 billion in 2025 [3]. - The company reported a loss of $2.2 billion in the first half of the year for its EV division [3]. - To counteract these losses, Ford is investing a total of $5 billion to revamp its manufacturing capabilities and establish a new battery factory [5]. Group 2: New Product Development - Ford is introducing a new Universal EV Platform aimed at producing a range of affordable models, which will reduce parts by 20%, fasteners by 25%, and assembly time by 15% [3]. - The first product from this platform will be a mid-size four-door electric pickup truck, with assembly taking place at Ford's Louisville, Kentucky plant, which will undergo a $2 billion expansion [3][5]. Group 3: Battery Production and Supply Chain - Ford plans to invest $3 billion in a new battery factory in Michigan, set to produce low-cost lithium iron phosphate batteries starting in 2026, supported by technology from CATL [5]. - The battery factory project was initially delayed due to political opposition but is now fully owned by Ford, qualifying for U.S. government subsidies for battery production [5]. Group 4: Market Context and Competition - Ford's CEO, Jim Farley, emphasized the need to compete with Chinese manufacturers like BYD and emerging startups, as well as large tech companies entering the automotive space [5]. - The company is scaling back on large EV models, which have been the primary source of losses, including the cancellation of a planned three-row electric SUV and delays in the next-generation F-150 Lightning and E-Transit electric vans until 2028 [5]. Group 5: Regulatory and Market Dynamics - The expiration of the electric vehicle tax credit in the U.S. is expected to impact EV demand, alongside relaxed emission regulations and reduced funding for charging infrastructure [8]. - Other companies, including startups and Tesla, are also moving towards lower-priced electric vehicle models in response to market conditions [8][9].