Ford's CEO and CFO took a drive in a Chinese EV. What they said next reveals a lot about the state of the US auto industry.
Ford's CEO and CFO took a drive in a Chinese EV. What they said next reveals a lot about the state of the US auto industry.
"These guys are ahead of us," Ford CFO John Lawler told the company's CEO Jim Farley after the two had taken a test drive in a Chinese electric SUV.
cross-posted from: https://lemm.ee/post/42531754
Avoid the clickbaity headline:
Farley and Lawler were left both shocked and impressed by how smooth and quiet their drive was, The Journal reported.
"Jim, this is nothing like before," Lawler told Farley, per The Journal.
"These guys are ahead of us," Lawler added.
Farley's fears were piqued again in May when he made another trip to China, The Journal reported.
"John, this is an existential threat," Farley told Ford board member and former Goldman Sachs executive John Thornton after his trip.
Which is why, as the free market capitalists they are, they went straight to the govt who magically doubled the cost of these vehicles via tariffs. Gotta love competition.