“If we lose to China in electric cars, there is no future,” Ford CEO warns about the brand's survival
Jim Farley, CEO of Ford, issues a stern warning about the company's future. He alerts that if they lose the battle for the electric car against China, Ford's survival will be in serious jeopardy. He also points out that other manufacturers like Tesla and GM cannot compete with the Chinese electric car.
The CEO of Ford has been very clear in analyzing the danger posed by the Chinese automotive industry in the fight for dominance in the growing market of electric cars. What characterizes Jim Farley's statements is that they are direct and concise. Those comments still resonate in which Farley stated that the Chinese electric car is far superior to Western ones.
The American company has set in motion all its machinery with the aim of making significant progress in sustainable mobility and, above all, exclusively electric mobility. The goal is clear, to make cheaper electric cars. But, will it be enough? Recently, the Ford CEO has expressed great alarm over Chinese power, even questioning the company's survival if they lose the battle for the electric car.
Tesla, GM, and Ford cannot compete with the Chinese electric car
In a new statement, Farley analyzed the current situation in the electric car market and, above all, the role that China is playing. A role of clear dominance that poses a direct threat not only to Ford but also to other major vehicle manufacturers like Tesla and General Motors. “The competitive reality is that China is the great power in the electric vehicle industry,” he pointed out.
For the CEO of Ford, there is almost no competition between Chinese and American car manufacturers in terms of the dominance of electric vehicles: “The competitive reality is that China is the black beast of the electric vehicle industry. There is no real competition from Tesla, General Motors, or Ford with what we have seen from China. It is completely dominating the global electric vehicle landscape and increasingly outside of China.”
The success of China in the electric car market has a simple explanation according to Farley: “It offers great innovation at a very low cost. There are hundreds of companies receiving huge subsidies. These are new brands. This is the case of BYD and Geely, and companies like Nio and Xiaomi, many of which have never been in the automotive sector before, and that gives them a great advantage.”
Ford's future is at risk
“We are in a global competition with China, and it is not just about electric vehicles. And if we lose this, we will not have a Ford in the future,” Farley stated, who has personally experienced the advance of the Chinese automotive industry in electric mobility as he drives a Xiaomi SU7 daily.
