Chinese electric vehicles are a serious threat to the Western automotive industry. This was stated by Jim Farley, CEO of Ford, during an appearance at the Aspen Ideas Festival, noting that China produces about 70% of all electric vehicles in the world.
According to “Business Insider,” Farley, who has been visiting China regularly lately, says he has been deeply impressed by the production capacity of Chinese brands, highlighting the technological superiority of Chinese electric vehicles.
Almost all cars are equipped with systems from companies like Huawei or Xiaomi that allow for seamless integration of digital content. “You get into an electric vehicle and our digital life is automatically reflected in the car”, said the American executive.
Farley sees China’s strengths not only in software but also in cost structure and product quality, noting that the vehicles are generally superior to Western models. “If we lose this competition, Ford will have no future”, warned the CEO of the American brand.
The competition from China has also had a direct impact on Ford’s strategy. The Chief Financial Officer, John Lawler, announced a change in direction in August of last year. Instead of the fully electric SUVs planned, Ford intends to focus more on hybrid models in the future.
