Ford warns: China could jeopardize the future of the Western auto industry
5 November 16:11
Ford CEO James Farley made a sharp statement about competition with China. He warned of the risk of bankruptcy for American manufacturers.
This was reported by Motor1, "Komersant Ukrainian" reports.
Ford CEO James Farley continues to express his mixed feelings about Chinese electric vehicles. A year ago, he publicly stated that he was driving a Xiaomi SU7 and was quite happy with it.
Soon after, Farley’s rhetoric became more critical when he called the Chinese auto industry “humiliating” Western companies, and now his words are taking on a depressing tone.
Recently, in an interview with CBS Sunday Morning, Ford compared China’s current automotive industry to Japan’s in the 1980s, but “on steroids.”
“They have enough capacity to serve the entire North American market, and they will bankrupt us all. That’s never happened in Japan, so it’s a whole new level of risk for our industry,” Farley emphasized.
Ford’s CEO acknowledged that modern Chinese electric vehicles are a product that American consumers will be willing to buy.
He called the SU7 “high quality” with a “great digital experience.” Farley explained that he continues to drive it because electric cars from China are “competitors, and you have to know them to win.”
The situation forced Ford to make drastic changes to its strategy. The company set out to produce smaller and cheaper electric vehicles, announcing the introduction of a new production system. It should allow Ford to produce a $30,000 electric pickup truck before expanding its main electric car portfolio.
