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Ford CEO pushes back Duffy's China accusations as 'mistruths': report
Fox Business • • business
Key Points:
- Ford CEO Jim Farley refuted Transportation Secretary Sean Duffy's claims that Ford is overly dependent on China, calling them misunderstandings that could have been resolved with a brief conversation.
- Farley denied allegations that Ford proposed a framework to facilitate Chinese automakers' entry into the U.S. market, emphasizing Ford's commitment as "America’s car company."
- The controversy centers on Ford's battery plant in Michigan, which licenses technology from Chinese company CATL; Ford clarified this is a limited licensing agreement, not a joint venture or foreign-owned operation.
- Farley acknowledged the need to collaborate with competitors, including Chinese firms, in some areas to stay competitive but stressed Ford’s substantial investment in U.S. manufacturing and job creation.
- The White House defended Ford's domestic investment efforts, while Farley expressed surprise at the public airing of concerns, highlighting ongoing informal communications with the administration.
