Ford CEO Jim Farley said that the US must carefully weigh how and whether Chinese automakers should enter the American market, and pointed to Europe as a cautionary tale.
Farley said at an Automotive News conference on Tuesday that the US must “be extremely careful around how the Chinese OEMs come to our country,” and cited the pressure on Europe’s auto industry as Chinese imports quickly grab market share there.
For European countries, “it’s too late,” he said.
Farley said Ford will partner with Chinese companies when the situation is capital-efficient and in areas where the automaker lacks expertise. Ford, for example, partners with Chinese battery maker CATL to make lower-cost batteries at a Michigan plant.
If you are so scared of competition, than fucking be competitive.
To be fair: he can’t. China got it’s shit together around EV batteries and the entire supply chain.
Biden funded “battery valley” in the US with $3B but as soon as Trump got elected, it ended. So while one country has a national strategy and competent government, the other funds and retracts in fits and starts. Ford EVs were massively overpriced, so no one bought them, then they could say no one buys EVs. Detroit has been trying to kill EVs since the EV-1 in 1996-99, when they were horrified to learn nothing wears out and EV practical lives could vastly exceed ICE without billions in parts sales.
Strange how companies always say no to regulations and demand a free market until a better company starts taking all their customers, then they demand governments to do something against the competitors
They can’t/won’t. China subsidizes their manufacturing. The US bails out car manufacturers and Ford lays off workers and the CEO makes a record paycheck.
US subsidizes Ford’s
manufacturingstock buyback program as wellBYD was founded on Warren Buffet $$.
Detroit has received $85B in Federal loans, bailouts and subsidies since 2008, while Chinese subsidies are rumored at $8B.
BYD CEO makes between $800K-$1.1M a year.
Jim Farley made $27.5M last year. “There’s yer problem right there, lady”
How can you do that when you fired engineers and replaced with AI?
“Why is the front wheel on the hood?”