Ford's decision to invest $5 billion in a new family of electric vehicles might seem crazy at this point, given how much the political winds have shifted against EVs since President Trump took office. • Widen the lens, however, and Ford's big bet is the only natural choice in the face of existential threats to its business.

The big picture: More and more mainstream car buyers can't afford to buy a new Ford, which sells for an average of $56,000. • It's not just Ford, of course. The entire industry is facing an affordability crisis. • At the same time, Chinese carmakers have figured out how to make inexpensive, high-quality, digitally advanced EVs, and they're quickly taking over the world. • It's only a matter of time before those Chinese cars arrive in the U.S.

Failure to invest

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