Ford’s Future Might Be In Danger

At the Aspen Ideas Festival, Ford CEO Jim Farley confidently shared his insights on the future of the auto industry with the audience. Among other things, he mentioned Chinese manufacturers and emphasised:

– If American car companies can’t keep up with China’s momentum in the production of electric vehicles, Ford’s future could be in jeopardy. We are in a global competition with China, and it’s not just electric vehicles.

His warning comes after a series of trips to China, six or seven in the past year, he says. There, he saw firsthand how quickly Chinese car manufacturers are overtaking the West. China not only produces more electric vehicles than anyone else, but it does so with quality.

– Seventy percent of all electric vehicles in the world are produced in China. Chinese manufacturers have far superior technology in the vehicle cabin. Huawei and Xiaomi are in every car. Come in, you don’t need to pair your phone. In addition, the price and quality of their vehicles are far superior, says Farley.

The idea, Farley says, is for the US to quickly catch up with China. We’ll see…

• Also See: Ford Mustang Sales Continues To Drop Drastically