Ford says it has a top-secret, high-powered team working to design its future electric vehicles. It’s part of a quest to compete profitably against Tesla and lower cost EV makers from China.
People in the market for an electric luxury vehicle can find plenty of options to choose from. That’s because EV technology, particularly batteries, is expensive so it’s easier for automakers to earn a profit on an Audi, Mercedes or Cadillac because people are used to paying more for those luxury car brands.
Even among mainstream auto brands, like Ford, EVs tend to cost more. Take the Mustang Mach-E, for instance, with prices starting around $45,000.
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