“We believe that we can be profitable at $25,000 to $30,000 so it's a huge opportunity for Ford.”

In context

“you're going to find that you're going to have electric vehicles well below gas prices unless there's so much capacity pushing against the demand curve, and it's an imbalance on that end of it. But eventually, rational players will have to come to the marketplace. Jim Farley: We launched our first small SUV this year in Europe in Cologne, our Explorer to two-row crossover. It's a relatively small vehicle certainly in the U.S. And you can expect, as I mentioned several times, that our new affordable platform will be used for most of our volume in their next cycle of product. What's really exciting for us is that we see an opening in the market. We see a lot of brands having to launch compliance vehicles that lose money, and they probably don't want to sell a lot of volume but they have to. We believe that we can be profitable at $25,000 to $30,000 so it's a huge opportunity for Ford. And what we're learning with BlueCruise and our Protiviti software on Pro is that all those vehicles will be great platforms for software and services. And so we're really excited about that new more affordable vehicle lineup, starting with Explorer in Europe this year. Tom Narayan: Thanks. And maybe as a follow-up, maybe this is something that could help here is battery raw mat costs, we have lithium down like 80% since the peak in 2022. Could you just remind us of how your contracts work? I think there's -- we've heard from some other OEMs that there's still some benefits to come, actually getting better, given how contracts work and you could actually see benefits on battery raw mats later in the year. John Lawler: Yeah, we're seeing the same thing. We're no different. Jim Farley: I wo”