Ford CEO says Chinese EVs would hit the heart and soul of the US
Electrek • • business
Key Points:
- Ford CEO Jim Farley warned that Chinese electric vehicle (EV) brands pose an "existential threat" to US automakers, emphasizing that allowing Chinese EVs into the US market would have a "devastating" economic impact.
- Farley highlighted China's massive production capacity, capable of manufacturing over 50 million vehicles, enough to cover all US vehicle sales, and raised concerns about cyber and privacy risks from Chinese EVs equipped with multiple data-collecting cameras.
- Despite acknowledging the unfair competition, Ford plans to compete by launching smaller, affordable EVs based on its new Universal EV (UEV) platform, with the first model being a mid-size electric pickup priced around $30,000, set for release in 2027.
- Ford will produce UEV-based vehicles at its Louisville Assembly plant, using lithium iron phosphate (LFP) batteries licensed from Chinese company CATL and manufactured in Michigan, illustrating a complex reliance on Chinese technology despite Farley's warnings.
- Farley admitted that Ford cannot ignore the EV market globally and must compete internationally, noting that while protecting US automakers domestically is possible, Ford must develop competitive electric models to face Chinese rivals overseas.
