Connect with us

Hi, what are you looking for?

Top Stories

Ford CEO Declares China the ‘700-Pound Gorilla’ in EV Market

UPDATE: Ford CEO Jim Farley has issued a stark warning about the dominance of Chinese automakers in the electric vehicle (EV) sector, labeling them the “700-pound gorilla” of the industry. Farley made these comments during an episode of The Verge’s “Decoder” podcast aired on October 9, 2023, emphasizing that the competition with Tesla, GM, and Ford is virtually nonexistent in comparison to China’s rapidly advancing EV landscape.

Farley highlighted the significant advantages enjoyed by Chinese manufacturers, primarily due to substantial government support and innovative technologies. “The competitive reality is that the Chinese are completely dominating the EV landscape globally and more and more outside of China,” he stated, reinforcing concerns that American companies are falling behind.

The CEO elaborated on the critical factors contributing to China’s success, noting, “China’s successful for good reason. It has great innovation at a very low cost.” He cited the proliferation of hundreds of local companies, including prominent players like BYD, Geely, and Xiaomi, many backed by generous local subsidies. Farley emphasized that these factors create an uneven playing field for American automakers.

During the podcast, Farley reiterated sentiments he shared earlier this year, describing China’s advancements in the EV sector as “the most humbling thing” he has ever witnessed. He specifically pointed out the superior in-vehicle technology provided by companies such as Huawei and Xiaomi, stating, “You get in, you don’t have to pair your phone. Automatically, your whole digital life is mirrored in the car.”

The implications of China’s lead in EV technology extend beyond just the automotive industry. Farley warned, “We are in a global competition with China, and it’s not just EVs. If we lose this, we do not have a future Ford.” His comments reflect a growing concern that American automakers may struggle to compete as China’s EV market continues to expand.

Farley also praised the Xiaomi’s maiden electric vehicle, the SU7, stating, “I don’t want to give it up,” after having driven it for six months. This endorsement underscores the competitive threat that Chinese brands pose to established American manufacturers.

The gravity of the situation is further emphasized by research from the Centre for Strategic & International Studies, revealing that the Chinese government has invested at least $230 billion to support local EV makers between 2009 and 2023. Rivian CEO RJ Scaringe echoed Farley’s concerns, stating on the “Everything Electric” podcast that there are no “secret magic” factors driving China’s impressive cost structures, but rather the compounded benefits of lower capital costs.

As the EV market evolves rapidly, the stakes are higher than ever for Ford and its competitors. The pressure is mounting for American automakers to innovate and adapt swiftly to keep pace with their Chinese counterparts. What happens next is critical for the future of the automotive industry, and all eyes will be on how Ford and others respond to this urgent challenge.

You May Also Like

Sports

The UFC event in Abu Dhabi on July 26, 2025, featured a record-breaking performance from Steven Nguyen, who achieved an unprecedented feat by knocking...

Lifestyle

Shares of **Amerant Bancorp** (NYSE:AMTB) received an upgrade from Wall Street Zen on March 10, 2024, transitioning from a hold rating to a buy...

Entertainment

The upcoming Netflix series, Bon Appétit, Your Majesty, is making headlines due to a significant casting change just ten days before filming commenced. Originally...

Entertainment

**Kat Izzo Defends Relationship with Dale Moss Amid Controversy** Kat Izzo, a contestant from the reality series *Bachelor in Paradise*, publicly affirmed her relationship...

Top Stories

UPDATE: Sydney Sweeney’s Baskin-Robbins advertisement is making waves online as backlash intensifies over her recent American Eagle campaign. Just days after critics condemned the...

Politics

King Charles has reportedly outlined specific conditions that Prince Harry must meet to facilitate a potential reunion with the royal family. Following a discreet...

Top Stories

BREAKING: The historic Durango-La Plata Aquatic Center, a cornerstone of community recreation since its opening in August 1958, is facing imminent demolition as part...

Entertainment

Erin Bates Paine, known for her role on the reality show Bringing Up Bates, was admitted to the Intensive Care Unit (ICU) following complications...

Top Stories

URGENT UPDATE: Affordable motorcycle helmets under ₹1000 are now available for safety-conscious riders across India. With road safety becoming a pressing issue, these helmets...

Business

An off-Strip casino in Las Vegas has unveiled Nevada’s latest sportsbook, Boomer’s Sports Book, as part of a substantial renovation. The new facility opened...

Sports

The Las Vegas Aces secured a convincing victory over the Los Angeles Sparks, defeating them 89-74 on March 12, 2024, at Crypto.com Arena. This...

Sports

As the 2025 NFL season approaches, fantasy football enthusiasts are gearing up for their drafts, particularly focusing on tight ends. With players like Brock...

Copyright © All rights reserved. This website provides general news and educational content for informational purposes only. While we strive for accuracy, we do not guarantee the completeness or reliability of the information presented. The content should not be considered professional advice of any kind. Readers are encouraged to verify facts and consult appropriate experts when needed. We are not responsible for any loss or inconvenience resulting from the use of information on this site.