IIRC, this is roughly equal to what Tesla spent from inception through achieving mass production of its EVs (e.g. with Model 3). Ford will lose some leverage on

IIRC, this is roughly equal to what Tesla spent from inception through achieving mass production of its EVs (e.g. with Model 3). Ford will lose some leverage on this investment due to their older bureaucracy, but they also don't have to start from scratch on aspects like design (they already know how to make F-150s well). This feels credible.