Ford's cancellation of the all-electric large SUV amid difficulties achieving profitability underscores the severe competitive pressures from Chinese manufacturers in the electric vehicle market.
The US carmaker expressed that it couldn't make a profit from the electric SUV within a year, revealing their struggle against fierce competition from Chinese competitors.
In contrast, new entrants like Xiaomi, traditionally known for smartphones, are successfully setting ambitious sales targets in the electric vehicle sector, increasing competition for established brands.
Ford's shift towards hybrid vehicles instead of full electric shows a strategic response to market realities, highlighting ongoing challenges in transitioning to fully electric production.
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