Chairman Bill Ford said in an interview that Ford is not yet ready to face competition from upcoming electric vehicles from Chinese manufacturers. Automotive expert.
“They grew very quickly and they developed them on a massive scale. And now they are exporting them. They are not here [yet] but they will come here, we think, at some point we need to be ready and we are getting ready, Ford said on Fares Zakaria GPS part of CNN.
Ford CEO Jim Farley said last month that its biggest competitors in the EV market are not General Motors or Toyota, but Chinese automakers like BYD and Geely. , SAIC and the Great Wall.
“To beat them, you either have to have a very different brand, which we think we can, or you have to beat them on cost. I think the Chinese are going to be the great power, so I think we see the Chinese as the main competitors, not GM or Toyota,” Farley said. separate report.
However, there are regulations in the US that will make it harder for foreign firms to compete in the US electric vehicle market, Automotive expert report.
The recently enacted Inflation Reduction Act requires foreign brands to manufacture their electric vehicles in the US for them to be eligible for a $7,500 tax credit (RM35,062) and these electric vehicles. need their batteries to have at least 40% North American origin or from a U.S. trading partner by 2024 to qualify for the credit. Battery material requirements will increase to 80% by 2027.
The American manufacturer introduced the Mustang Mach-E in November 2019, notably applying the famous model name to its all-electric crossover. Another staple of the internal combustion engine, Large pickup truck F-150 achieved an EV version in Lightning F-150 in May 2021 and last September, Blue Oval launched the E-Transit, a pure EV version of its commercial van for the European market.
