Ford and Renault have announced a new partnership to develop small and affordable electric vehicles (EVs) for the European market. The collaboration also includes plans to produce commercial vans together. The move comes as both automakers face growing competition from Chinese carmakers, who are offering lower-cost EVs in Europe.
Chinese EV makers like NIO Inc. (NYSE: NIO) appear to have the upper hand in the global auto market, and Western manufacturers like Ford are having to respond to the commanding lead that their…
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