The American Car Industry Can't Go on Like This
9 days ago
- #electric-vehicles
- #china-competition
- #automotive-industry
- Ford CEO Jim Farley tested a Xiaomi SU7, a Chinese-made electric sedan, praising its features and affordability.
- Chinese EVs pose a significant threat to Ford and other U.S. automakers due to their low cost and advanced technology.
- Ford is retooling its assembly line to produce a new $30,000 electric truck by 2027, aiming to compete with Chinese EVs.
- The new truck will have fewer parts and a more efficient assembly process, inspired by Tesla and Apple engineers.
- China's advantages include government subsidies, engineering talent, battery technology, and low labor costs.
- Ford faces challenges from Chinese EVs expanding in developing countries and potential future production in the U.S.
- Ford's electric division has already incurred $2 billion in losses in the first half of this year.
- The company's new assembly system, called 'assembly tree,' aims to increase production speed by 15%.
- Legacy automakers like Ford have struggled to keep up with the rapid advancements and competition from Chinese EV makers.
- The future of Ford and other U.S. automakers remains uncertain as Chinese EVs continue to dominate globally.