An event at the Ford Dearborn Plant in Dearborn, Michigan, pictured on April 11, 2024. Bill Pugliano/Getty Images Paris Reuters —

Renault and Ford will jointly develop small, cheaper Ford-branded electric vehicles for the European market to fend off rising competition from Chinese rivals, the companies said Tuesday.

“We know we’re in a fight for our lives in our industry,” Ford ( F ) CEO Jim Farley told reporters in Paris Monday ahead of the announcement, when describing Ford’s response to the threat posed by cheaper Chinese competition. “There is no better example than here in Europe.”

Europe’s traditional automakers face an influx of Chinese rivals from BYD to Changan and Xpeng ( XPEV ).

As part of the Ford-Renault partnership , the first of two planned small EVs – to

See Full Page