Ford CEO Jim Farley Reveals Shock at Chinese EV Tech, Launches Internal Overhaul
DETROIT – ford CEO Jim Farley admitted he was “shocked” by the technological sophistication of Chinese electric vehicles after a detailed dissection of a Tesla Model 3 and competitor models, prompting a major restructuring of Ford’s EV operations. Farley’s revelation underscores the intensifying global competition in the electric vehicle market and the pressure on established automakers to innovate at an unprecedented pace.
Farley, speaking on the Office Hours: Business Edition podcast, described being “very humbled” after Ford engineers took apart both a Tesla Model 3 and Chinese EV models. The analysis revealed that the Mustang Mach-E, Ford’s own electric SUV, carried an needless kilometer of extra electrical wiring, adding weight and complexity. this finding was a key catalyst for the creation of Ford’s separate Model E division in 2022, dedicated solely to electric vehicle development.
“We can’t give up on electric cars, not just for the US, but if we want to be a global company, I’m not just going to cede that to the Chinese,” Farley stated, highlighting the high stakes for Ford’s future. The company faces a significant challenge, having already lost over $5 billion on the Model E division last year. Despite the financial strain, Farley maintains a commitment to rapid innovation, believing a public approach to problem-solving accelerates solutions.
Farley’s concerns extend beyond Tesla, with a recent acknowledgement of the xiaomi SU7 – which he drives daily – as a formidable competitor. Ford is now focusing on a new midsize electric pickup truck, priced around $30,000, built on a new platform intended for multiple future models. This project represents a critical test of Ford’s ability to match the speed and efficiency of Chinese EV manufacturers.
