Chinese Electric Cars Are Becoming Major Competitors Ford, GM and Toyota are not being considered

Chinese Electric Cars Are Becoming Major Competitors Ford, GM and Toyota are not being considered

Ford Ranger Raptor is seen at a Ford event in Michigan, USA, May 5, 2023.

REPUBLIKA.CO.ID, JAKARTA – Executive Director Ford Motor Company Jim Farley said that electric car manufacturers China is its main rival in the electric vehicle sector. Besides, according to him, Ford has barriers to compete with manufacturers electric car China in terms of costs associated with a small scale of production.

“I guess we’ll see China as a major competitor, it is not GM or Toyota,” Farley said at the Morgan Stanley Sustainable Finance Conference. “The Chinese are going to be powerful,” he said as quoted by Reuters, Friday (26/5/2023).

China, the world’s largest auto market, has the best battery technology and dominates EV production, Farley said. He named BYD, Geely, Great Wall, Changan SAIC as among the “winners” among Chinese car manufacturers.

To beat the Chinese automaker, Farley said Ford needed a different brand, which he said was, or was, lower cost. “But how do you beat them on cost if their rate is five times yours?” Farley said. “The Europeans allowed them (Chinese producers) – so now they are selling higher levels in Europe.”

Ford said in February it would invest $3.5 billion to build a battery plant electric car in Michigan is using technology from its Chinese partner CATL to make batteries at a lower cost.

The U.S. Treasury still has to issue rules later this year that will determine whether the Ford SAIC arrangement violates the “Foreign Concerned Entities” ban that is part of the tax credits. EV worth 7,500 US dollars. Ford faced criticism from Senator Marco Rubio for the plan.

Ford is seeking to cut costs in China, where sales have fallen since 2016. The US company is restructuring its operations there to turn one of its joint ventures into a hub for the export of affordable electric and internal combustion commercial vehicles.

Last January, Tesla CEO Elon Musk said about the Chinese automaker: They work harder and they work smarter. … So we suspect, maybe there are companies from China that are more likely to be second to Tesla.”

source: Reuters


Related posts:

Ford: Our opponents, only the Chinese!Ford: Our opponents, only the Chinese! Electric car race heats up: Ford announces decisionElectric car race heats up: Ford announces decision The new version of Puma ST on the Greek marketThe new version of Puma ST on the Greek market Default ThumbnailFord is introducing next-generation electric vehicles; look! Default ThumbnailWhy Ford’s electric car division could be big in the future Porsche has launched its new Formula E carPorsche has launched its new Formula E car Chinese Electric Cars Soon Dominate the US Electric Car MarketChinese Electric Cars Soon Dominate the US Electric Car Market Is Ford Considering Strong EV Rivals from Chinese Manufacturers, GM and Toyota?Is Ford Considering Strong EV Rivals from Chinese Manufacturers, GM and Toyota? Chinese Electric Cars Soon Dominate the US Electric Car MarketChinese Electric Cars Soon Dominate the US Electric Car Market China’s BYD Auto Electric Car Competing Fiercely in the Global MarketChina’s BYD Auto Electric Car Competing Fiercely in the Global Market Default ThumbnailHow did Chinese-made cars rise to the world market? Through the United States and South Korea… A California police department is replacing its fleet with TeslasA California police department is replacing its fleet with Teslas Honda e:Ny1 is an electric SUV [video]Honda e:Ny1 is an electric SUV [video] European automakers are very concerned about Chinese competitorsEuropean automakers are very concerned about Chinese competitors European automakers are very concerned about Chinese competitorsEuropean automakers are very concerned about Chinese competitors Ford is unveiling an ambitious plan to exploit rival Tesla’s weaknesses and invest heavily in electrifying its vehicles to gain leadership in the global electric car market.Ford is unveiling an ambitious plan to exploit rival Tesla’s weaknesses and invest heavily in electrifying its vehicles to gain leadership in the global electric car market. First look at Tesla’s future small hatchbackFirst look at Tesla’s future small hatchback China’s Electric Cars Soon Capture the US Electric Car MarketChina’s Electric Cars Soon Capture the US Electric Car Market China’s Electric Cars Soon to Capture the US Electric Car MarketChina’s Electric Cars Soon to Capture the US Electric Car Market The first new focus on sales in its category – carzine.grThe first new focus on sales in its category – carzine.gr Default ThumbnailCustoms duties on Togg’s competitors List of the Most Modern Cars in the World, Can Predict the Weather!List of the Most Modern Cars in the World, Can Predict the Weather! Why is Ford a more attractive partner for Red Bull than Porsche?Why is Ford a more attractive partner for Red Bull than Porsche? IN QUESTIONS 3 – China’s technological development and 2030 goalsIN QUESTIONS 3 – China’s technological development and 2030 goals Why electric cars from China could destroy Brazil’s economyWhy electric cars from China could destroy Brazil’s economy Economist: Everything about the automotive industry is changing instantlyEconomist: Everything about the automotive industry is changing instantly Everything about the automotive industry is changing instantly – Economic PostmanEverything about the automotive industry is changing instantly – Economic Postman 32 Ford car with almost no Ford 32 | flat street32 Ford car with almost no Ford 32 | flat street Musk said the Tesla Semi will change the world of transportationMusk said the Tesla Semi will change the world of transportation Are electric cars more affordable in the future?Are electric cars more affordable in the future?
Avatar for Amani
Amani