News Summary

• Ford made its big EV announcement early this week — a plan to invest $2 billion to transform its Louisville Assembly Plant into a factory capable of making a new generation of affordable EVs.
• Ford, like many other automakers, is being squeezed by tariffs, slower than expected EV demand, and the looming threat of competition from China.
• A few little birds told us that rental car startup Kyte, which once billed itself as the “best alternative to Hertz,” is no longer operating.