Is Ford Considering Strong EV Rivals from Chinese Manufacturers, GM and Toyota?

Bisnis.comJAKARTA – American car manufacturer, Ford Motor Co. they said that its main rivals in the electric car market are not Toyota and General Motors (GM), but Chinese brands.

Quoted by Reuters.com, Friday (26/5/2023), Ford Motor Chief Executive Officer (CEO) Jim Farley emphasized that Chinese car brands are currently growing rapidly in terms of producing electric vehicles.

“I think we’ve seen it [merek] China is the main competitor, not GM or Toyota,” Farley said.

Currently, China is said to be the largest car market in the world with several big brands involved in the electric car market. Among them are BYD, Geely, Great Wall Motor (GWM), Changan to SAIC.

Then, to beat the Chinese automaker, Farley pointed out that Ford needed a different product that would at least have a lower price.

This is because Chinese electric cars that have entered the European market have received a good response because they are cheap.

“But how do you beat them at a cost that is five times the rate [lebih murah] of your level,” he added.

Meanwhile, Ford itself has cut car prices in China as sales have fallen since 2016. Ford is also restructuring its operations in China to transform one of its joint ventures into a hub for electric vehicle shipments.

As previously reported, General Motors Co. revealed its plan to increase the electric vehicle ecosystem, with the goal of producing 1 million units of electric vehicles per year from 2025.

Going forward, GM plans to move aggressively to become a leader in the electric vehicle market. To fulfill this mission, GM will have a wide range of products available in the pickup, SUV and luxury segments that represent nearly 70 percent of the EV industry’s volume, including the Chevrolet Silverado EV, Blazer EV and Equinox EV, Cadillac LYRIQ and GMC Sierra EV. .

Meanwhile, Toyota will begin domestic production of a 3-row electric SUV in 2025 in the United States. The SUV will have batteries manufactured in North Carolina and the plant’s production capacity will be increased later.

Then, in the Asian market, especially China. The Japanese car brand will launch two domestically produced electric vehicle models in 2024. In addition, in Asia and emerging markets, including Indonesia, Toyota plans to focus on meeting the growing demand for clean electric vehicles.

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