GLONGHUI July 1 | According to CNBC, Ford CEO Jim Farley revealed at the Aspen Ideas Festival event that the company will launch a $30,000 pure electric model that will be profitable within about two and a half years. Farley did not disclose the specific parameters of this pure electric model, but only confirmed that it was developed by Ford's “skunk factory” team. The main competitors are Chinese car companies, including BYD, and Tesla's future entry-level models. He said Ford is prioritizing its focus on smaller pure electric vehicles rather than large pickup/SUV models because these models “will never make money.”