Ford Motor CEO Jim Farley said the automaker will build more components for electric vehicles in its own factories in order to retain its workforce.
At a conference in Detroit, Farley said electric vehicles requires 40% less labor to build than current combustion vehicles.
Building electric vehicle motors, batteries and other components in-house will preserve jobs and make the company competitive.
Tesla builds batteries and most of its hardware for its electric vehicles, and it’s profit margins has now surpassed Ford’s and other automakers.
Ford has begun construction of an electric vehicle manufacturing complex in Western Tennessee called Blue Oval City.
