Business – Ford, Renault team up on low-cost electric cars to counter Chinese rivals

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Automotive heavyweights Renault and Ford are to join forces to develop a line of compact, more affordable Ford-branded electric vehicles and commercial vans in a bid to curb a wave of cheaper Chinese electric models gaining ground in Europe. Ford CEO Jim Farley said in a joint statement: “We will combine Renault Group’s industrial scale and EV assets with Ford’s iconic design and driving dynamics to create vehicles that are fun, capable and distinctly Ford in spirit.» Also in this edition: Microsoft announces $23 billion in AI investments in Asia.