Ford Chief Warns of Threat from China
Jim Farley, CEO of Ford, expressed concern about the future of the automotive giant due to the rapid development of Chinese electric vehicles. At the Aspen Ideas Festival, he stated that China is ahead of the West in the technology, cost, and quality of electric cars. Farley emphasized that if Ford cannot compete, it could threaten the company’s existence.
“We are in global competition with China, and it’s not just about electric vehicles. If we lose, Ford has no future,” Farley stated.
Chinese Manufacturers Are Ahead
According to the head of Ford, Chinese companies produce 70% of the world’s electric vehicles, and their quality is not inferior to Western counterparts. He also noted the high level of embedded technology in Chinese cars, including integration with Huawei and Xiaomi services.
Despite this, Ford is changing its strategy, focusing on hybrids instead of fully electric models. This is due to demand in the markets the company serves. However, the question of whether such steps will be enough for long-term competition remains open.
Recent years have shown that Chinese manufacturers are capable of quickly adapting to global trends, while traditional automakers face challenges in transitioning to new technologies. Market conditions are forcing companies like Ford to seek a balance between current consumer needs and long-term investments in the future.