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Tesla Sweats Over Approval Of Elon Musk's Pay Plan, Ford's Distress Call To Suppliers, Faraday Future's Mouthwatering Rally And More: Biggest EV Stories Of The Week
​Liz Door, Ford's chief supply chain officer reportedly said in the memo. "To enable affordability, it is of paramount importance that our EV portfolio achieves further levels of material cost efficiency."

The company asked suppliers to develop "incremental cost-reduction proposals" for a list of both current and upcoming EVs, including the F-150 Lightning pickup, next-gen P800 electric pickup, Mustang Mach E, E-Transit van and large electric SUV.

"We also would be willing to consider ideas that may require investment but support profitability. Everything is on the table," Door reportedly said.

Faraday Future's Stratospheric Rally: Struggling EV startup Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) saw its shares catapult from $0.0460 on May 10 to $1.03 on Friday. In percentage terms, the gain is a mouthwatering 2,000%. The gain came despite a lack of any significant news from the company. Incidentally, the stock rose as high as $3.90 intraday on Friday. The marked outperformance versus the market may be attributable to strong retail buying in the stock amid a resurgence in the meme rally this week. Frenzied retail buying is believed to have set in motion a short squeeze, going by the elevated short interest in the stock.