Ford CEO: It Is Already Too Late for Europe to Stop Chinese Carmakers
Jim Farley, head of US automaker Ford, says Europe can no longer halt the rise of Chinese car manufacturers and urges the United States to be more cautious about letting Chinese vehicles into its market.
Jim Farley, chief executive of the American automaker Ford, warns that European car manufacturers are in a very difficult position in their competition with Chinese rivals. In his view, it is already too late for Europe to stop the rapid growth of Chinese producers, so the United States should be far more careful when deciding whether to let Chinese cars into its own market.
Rapid growth in Europe
Chinese carmakers are quickly expanding their presence in Europe. In August their market share reached 11.7%, and their sales more than doubled within a year. China's overall vehicle exports have also risen sharply in recent years, from about three million cars in 2022 to a forecast 12 million this year.
Strengths beyond electric vehicles
Farley stresses that China's advantage is not limited to electric cars. Chinese companies are also strong in hybrids and conventional petrol-powered vehicles, and they hold advantages in both costs and technology.
Ford itself works with Chinese firms. It cooperates with battery maker CATL and carmaker Geely to use Chinese technology and cut costs. At the same time, the company is preparing to compete directly with Chinese automakers.
US protective measures
The United States is currently trying to limit the entry of Chinese cars through very high tariffs and software restrictions. However, industry leaders worry that such protective measures may not be enough in the long run.
