Ford CEO Said There's a Reason He Chose to Drive Xiaomi and Not Tesla
Business Insider • • business
Key Points:
- Ford CEO Jim Farley tested a Xiaomi SU7 EV instead of a Tesla to better understand competition from Chinese automakers, emphasizing that Tesla lacks updated vehicle models.
- Farley praised Chinese brands like BYD for their cost efficiency, supply chain strength, and manufacturing expertise, suggesting Ford should compete by leveraging similar cost competitiveness.
- He highlighted the demand in the US for affordable EVs, particularly pickups and utilities priced around $30,000, contrasting with earlier higher-priced models.
- Farley has repeatedly expressed concern over China's automotive progress, warning that Chinese cars entering the US market could severely impact domestic manufacturing.
- Ford is shifting focus from producing only electric pickups like the F-150 Lightning to more affordable and hybrid vehicles, a strategic move expected to cost about $19.5 billion.
