Ford Motor Co. Executive Chairman Bill Ford Jr. said the US is “not quite yet ready” to compete with China in the production of electric vehicles and said his company is taking an “all hands on deck” approach to prepare.
“They developed very quickly, and they’ve developed them in large scale, and now they are exporting,” Ford said in an interview on CNN’s Fareed Zakaria GPS. “They are not here, but they will come here we think at some point and we need to be ready, and we’re getting ready.”
China is poised to become the world’s No. 2 exporter of passenger vehicles, potentially reshaping the global auto industry and shaking up the dominance of its car trading partners and rivals. Overseas shipments of cars made in China have tripled since 2020 to reach more than 2.5 million last year, challenging traditional car exporters such as Germany.
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