Ford's decision to cut 4,000 jobs in Europe, representing 14% of its workforce there, reflects the challenges in the EV market and ongoing economic pressures.
The company has expressed challenges in developing a competitive electric vehicle strategy in Europe, emphasizing the need for clearer policies to support e-mobility initiatives.
As competition increases, particularly from Chinese manufacturers, Ford's ability to maintain a strong position in the European EV market is under significant threat.
Ford's CEO Jim Farley highlighted the importance of understanding the competition and the market dynamics by engaging directly with features of competing brands' technologies.
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