Ford CEO says EV cost parity may not come until after 2030

FILE PHOTO: Ford Motor Company's Chief Executive Jim Farley speaks with analysts at Ford's Capital Markets Day, Dearborn, Michigan, U.S., May 22, 2023. REUTERS/Joseph White/

(Reuters) - Electric vehicles may not reach cost parity with internal combustion engine vehicles until after 2030, Ford Chief Executive Jim Farley said on Wednesday.

Speaking at an investor conference, Farley said EVs will continue to be more expensive than their ICE counterparts until the second and third generation vehicles go into production after 2025.