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A rise in searches for electric cars on CarMax coincides with a drop in average price as the number of affordable used EVs grows.
Ford is planning an electric Ford small SUV to compete with low-priced Chinese EVs like the BYD Seagull EV, which costs under $10,000.
Ford CEO Jim Farley said a company “skunkworks” team has been working on a small, low-cost platform for producing Ford EVs to compete with China and Tesla.
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