Ford is yet to be ready to face the competition from upcoming electric vehicles from Chinese manufacturers, its chairman Bill Ford has said in an interview, according to Car Expert.
“They developed very quickly, and they developed them in large scale. And now they’re exporting them. They’re not here [yet] but they’ll come here, we think, at some point we need to be ready, and we’re getting ready, Ford said on the Fareed Zakaria GPS segment of the CNN.
Previously, Ford CEO Jim Farley had said last month that its biggest competitors in the electric vehicle market area not General Motors or Toyota, but Chinese makes such as BYD, Geely, SAIC and Great Wall.
“To beat them, you either have to have a very distinct brand, which we think we do, or you have to beat them on cost. The Chinese are going to be the powerhouse, I think, so I think we see the Chinese as the main competitor, not GM or Toyota,” Farley said according to a separate report.
There are, however, regulations in the United States that will make it more difficult for foreign makes to compete in the US electric vehicle market, Car Expert reported.
The recently-enacted Inflation Reduction Act requires foreign brands to produce their EVs in the US for them to qualify for a US$7,500 (RM35,062) tax credit, and these EVs need their batteries to have at least 40% of their materials sourced from North America or from a US trading partner by 2024 in order to qualify for the credit. The battery materials requirement will increase to 80% by 2027.
The American manufacturer unveiled the Mustang Mach-E in November 2019, notably applying the famous model nameplate for its fully electric crossover. Another combustion engine staple, the F-150 full-sized pick-up truck gained an EV version in the F-150 Lightning in May 2021, and in September last year the Blue Oval unveiled the E-Transit, the pure EV version of its European-market commercial van.
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look at it this way – the Chinese has been electronic Gods way ahead of any other countries. And EV just so happens to be a large sized electrical appliance.
The Factor Is Cost. China Is Able To Manufacture At Much Lower Cost Than Any Other 1st World Countries.
Not for any longer. Many companies moving out of China to Vietnam, India etc. labour costs getting expensive in china
i think you are not aware that China’s EV manufacturers automate 100% of their EV production line. Geely’s EV production line re 100% automated. the issue of cost is only on the price of materials and R&D, less on labour. That is how China is moving much more ahead. Many conpanies that went away are quietly going back to China because there is no other replacement for China’s whole complete chain. Car manufacturers move out from India because India is not very business friendly.
Ya money is G_d
Also cheap cheap labor in Bangla India etc etc surely can sell cheap no need to pay high wages shareholder happy gov link komapy glory and happy ok la all. Cheap skate also glory glory buy product no research just copy. You see me set good example I use my real name not copy some famous oversea name all talk only people no pride in them self.