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- CEO Jim Farley talked up Ford's plans to build a new range of affordable EVs in an earnings call.
- It comes after Tesla also promised to accelerate its plans to build cheaper electric vehicles.
- Automakers are scrambling to build more affordable EVs as demand for electric vehicles stalls.
Ford has thrown down a gauntlet to Tesla by touting its upcoming range of cheap electric cars, as both companies grapple with slowing demand for EVs.