CEO Jim Farley cites competitive threat from Chinese automakers like BYD, prompting Ford to accelerate affordable EV development.
Ford CEO Jim Farley told employees the company expects Chinese automakers to enter the US market within five to 10 years, despite existing trade barriers. The warning follows concerns over the competitiveness of Chinese EV manufacturers like BYD, which have pressured Ford to develop cost-efficient electric vehicles from the ground up.
Farley and other executives indicated Chinese entry is more likely toward the latter end of the decade. The comments align with broader industry warnings, though Ford’s leadership has now provided a clearer timeframe. Earlier this month, Ford Executive Chair Bill Ford emphasized the need to compete directly with Chinese automakers.
The remarks come as US lawmakers push to expand restrictions on Chinese vehicle sales in the world’s second-largest auto market. Ford has not commented publicly on the internal discussions.