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.
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”