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Ford engineered its next-generation EV to be lighter, sleeker and more electrically efficient so that it can go farther on a charge and start at $30,000, some $20,000 cheaper than the average new car.

Ford Motor Co. is preparing to cut as many as 8,000 jobs in the coming weeks as the automaker tries to boost profits to fund its push into the electric vehicle market, according to people familiar with the plan.

Rivian Automotive Inc., the electric-truck startup backed by Amazon .com Inc., is running the automotive equivalent of a three-ring circus: attempting to launch a trio of new vehicles in a factory that made its last car six years ago.