Ford Motor Co. CEO Jim Farley has flagged the rapid growth of China's electric vehicle (EV) market as an existential threat to the company. Following his recent visit to China, he noted that domestic manufacturers such as BYD have surged ahead in sales, even surpassing Tesla in the European market. With negligible EV sales in both China and the EU, Ford risks being left behind as competition intensifies. The current tariff structure on Chinese EV imports may not be sustainable, especially with strong demand and pricing from Chinese manufacturers bolstered by government support.
"The new wave of EVs is not the future. It is the present."
"Ford can write off any EV success outside of the United States."
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