Ford CEO Jim Farley has highlighted the importance of winning the competition with Chinese electric vehicle manufacturers in the global market.
According to Electrek, Farley recently addressed the tariff policy that U.S. President Donald Trump announced, warning that it would intensify global industrial competition.
Farley stated that if the 25% tariffs in Canada and Mexico persist, it would severely impact the automotive industry, potentially leading to billions in lost profits and negative effects on American jobs. He hoped to work with government leaders to strengthen the U.S. auto industry.
He also predicted that the rising demand for the latest software and technology and the emergence of Chinese OEMs as a global force will persist for the time being.
Farley emphasized that Chinese electric vehicle manufacturers are emerging as a major global market force and stressed Ford’s need to confront them head-on to win the fight. He added that the EV market is incredibly dynamic and presents an area where Ford can leverage its global capabilities.
In the meantime, Farley stated last year that electric vehicles are the upcoming revolution in mobility and that he plans to introduce a low-cost electric vehicle that costs less than $30,000 by 2027.
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