US EditionFord CEO Jim Farley Praises Chinese EVs Amid Affordable EV Platform Plans: 'It's The Most Humbling Thing' - Ford Motor (NYSE:F)
- Ford CEO Jim Farley praised the advanced technology and affordability of Chinese electric vehicles amid Ford's plans for a new affordable EV platform by 2027.
- Farley linked this praise to challenges including US inability to source high-power magnets and heavy Chinese government support, causing Ford to pivot to hybrids in August 2024.
- He emphasized that 70% of global electric vehicles are made in China, highlighting brands like Xiaomi and BYD expanding aggressively in Europe despite US import tariffs.
- Farley expressed deep concern over the advanced cost efficiency, quality, and in-car technology of Chinese electric vehicles, warning that if Ford falls behind in this area, the company’s future could be at risk.
- This competitive gap suggests that Ford and other US automakers must innovate rapidly or risk significant market share loss to China’s well-supported and technologically advanced EV industry.
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Ford's CEO sounded the alarm again on China. Here are 3 ways Chinese EVs drastically differ from their US rivals.
Ford CEO Jim Farley has previously praised the SU7, an electric sedan built by Chinese smartphone company Xiaomi.Spencer Platt via Getty Images; Costfoto/NurPhoto via Getty ImagesFord's CEO says Chinese EVs are far ahead of their US rivals on cost, quality, and technology.High-tech features such as autonomous driving and AI assistants are now standard in many Chinese EVs.An electric car in China costs around $25,000 less on average than in the U…
At the Aspen Ideas Festival, Jim Farley, CEO of Ford, surprised everyone by talking about the electric vehicle industry in China. Farley didn't save anything and claimed that Chinese electric cars are "very superior" to what the West has to offer.This statement not only highlights the differences between electric vehicles in both regions, but also highlights the serious threat these cars pose to Ford.Chinese technological powerDuring a dialogue …
Ford CEO Says Chinese EVs Are 'Far Superior'
Ford Motor Co. (NYSE: F) CEO Jim Farley told a group at the Aspen Ideas Festival that China’s electric vehicles EVs are “far superior” to U.S. EVs. And after driving them, he said, “it is the most humbling thing I have ever seen.” He added that he worried about China’s EV competition. According to Yahoo, he told the same group, “70% of all EVs in the world, electric vehicles, are made in China.” He had recently tested some of China’s EV products…
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