The price of new EVs may not drop to the level of internal combustion-engined cars until after 2030 when the production process will be simpler, requiring fewer parts and cheaper materials, Ford CEO Jim Farley said at an investor conference yesterday, according to Reuters.
Farley added that for traditional automakers transitioning to electric vehicles, the battery-powered models will continue to be more costly than their ICE counterparts until the second and third generations go on the assembly lines toward the end of this decade.
After 2030, costs will become lower thanks to “dramatically lower labor content,” the Michigan-based company’s chief said. In other words, future generations of EVs will be simpler to build because they’ll have fewer parts and will be fitted with smaller batteries that use cheaper materials.

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Ford CEO Says EV Price Parity Won't Arrive Until They Layoff More Assembly Workers

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