Ford CEO Warns Employees That Chinese Automakers Could Break Into American Market in the Next Decade
Ford is developing low-cost electric vehicles, including a $30,000 pickup, as Jim Farley warns Chinese rivals could enter the U.S. market within 10 years.
- On Thursday, Ford CEO Jim Farley told employees the company is preparing for Chinese automakers to enter the United States market within 5 to 10 years, despite existing trade barriers.
- Farley warned that a Chinese automotive breakthrough is no longer a matter of "if," but of "when," even as the United States maintains strict trade barriers including about 100% tariffs on Chinese electric vehicles.
- To compete directly, Ford is developing a family of affordable electric vehicles on its Universal Electric Vehicle Platform, beginning with a midsize pickup truck priced at $30,000.
- Chinese automakers are already gaining significant market share in Europe and Canada, prompting Ford to recently announce a joint venture with Geely to produce vehicles in Spain for the European market.
- Earlier this month, Ford Executive Chair Bill Ford stated the company must "go toe-to-toe with China" and become "leaner and smarter" to survive intensifying competition.
13 Articles
13 Articles
Chinese Cars Are Coming and There's Nothing We Can Do To Stop Them, Says Ford CEO
The United States has done everything it could to keep Chinese cars at bay. High tariffs, hardware bans, a new security act, you name it, it has already been done. However, Ford CEO Jim Farley warns the industry that the Chinese automotive breakthrough in the United States is no longer a matter of "if," but of "when." Jim Farley has been trying to put the U.S. car industry on high alert for the past cou... (continue reading...)
Chinese carmakers could enter US market in next decade, Ford CEO tells employees
Ford CEO Jim Farley told employees in a town hall on Thursday that the company is preparing for the possibility that Chinese carmakers could enter the American market in the next five to 10 years, according to three people who viewed the meeting.
Ford expects Chinese automakers to enter U.S. market within next decade Ford CEO Jim Farley said Chinese automakers could enter the U.S. market within five to 10 years. The company is preparing for competition by developing affordable electric vehicles.
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