News Snapshot:
Ford Motor 's (F) decision to scale back future investments in China is a prudent step for the automaker whose business there has been struggling to meet Chinese consumer preferences for electric vehicles. In an interview in The Financial Times on Tuesday, Ford CEO Jim Farley said there's no guarantee that Western electric vehicle automakers in China can prevail ahead of popular domestic EV competitors such as Warren Buffett-backed BYD and Great Wall Motor. Ford's American rival Tesla (TSLA) also has a major foothold in China. Ford's business has been struggling in China. In 2022, the company posted a loss...
