The world needs cheap electric cars. That spells trouble for big carmakers

In 1913, Henry Ford's moving assembly line transformed carmaking. Ford's groundbreaking innovation drastically reduced the time it took to assemble a car, enabling mass production and slashing vehicle prices. More than a century later, carmaking is undergoing a similarly seismic shift. Only this time, Ford Motor Company (F) is scrambling to catch up, rather than leading the charge. Electric vehicles represent a fundamental shift in the technologies and manufacturing processes that have turned Ford and rivals such as Toyota (TM) and Volkswagen into the biggest car companies on the planet. Established automakers have been racing to adapt at an enormous…