Jim Farley: "If We Fail to Achieve This, There Will Be No Future for Ford" | Carscoops

      This isn't the first occasion that Farley has raised concerns about Chinese electric vehicles.

      Ford CEO Jim Farley cautions that China's dominance in the EV sector could threaten the company's future.

      He asserts that Chinese electric vehicles excel in technology, pricing, and quality, leaving Western manufacturers trailing behind.

      Ford is shifting its focus from electric vehicles to hybrids, but this strategy may not suffice to remain competitive.

      The competition in the electric vehicle sector is not only intensifying but is becoming crucial for traditional automakers. During the Aspen Ideas Festival last Friday, Jim Farley made this point clear. He warned that if American manufacturers fail to match China's EV progress, Ford's future could be at risk.

      “We’re competing globally with China, and it extends beyond just EVs,” he stated emphatically. “If we falter here, there is no future Ford,” he asserted. His comments are informed by experience rather than speculation.

      His warnings come after multiple visits to China, between six to seven in the past year, where he witnessed how rapidly Chinese manufacturers are overtaking their Western counterparts. “It’s the most humbling experience I’ve encountered,” he remarked. “Why is there such astonishment over a nation that cannot sell cars in the U.S.? It ultimately comes down to production capabilities.”

      Chinese EVs: High Volume, High Quality

      Farley claims that not only is China producing more electric vehicles than any other nation, but their quality is also impressive. “Seventy percent of all electric vehicles worldwide are manufactured in China,” he noted. This comment follows shortly after Xiaomi unveiled the YU7, a luxury SUV priced at $35,000, which reportedly has already received 200,000 orders.

      “They possess vastly superior in-car technology. Companies like Huawei and Xiaomi are integrated into every vehicle. When you enter, your phone automatically connects without needing to pair it. Your entire digital life is synced within the car. Furthermore, their cost and the quality of their vehicles significantly surpass what I observe in the West,” Farley concluded.

      The message from Farley is evident: he urges the U.S. to catch up with China as swiftly as possible. Nevertheless, Ford is modifying its approach to produce fewer electric vehicles, not more. This decision stems from the fact that the markets Ford serves currently show a greater inclination toward hybrids. Business Insider highlights that Ford's stock has increased by more than 9 percent this year.

      Nonetheless, a crucial question remains: will this strategic shift be sufficient for long-term competitiveness in a global EV market increasingly influenced by China's supremacy? Farley is not waiting for an answer; he is already raising the alarm.