Jim Farley, the CEO of Ford, revealed in an interview on the Everything Electric Show channel that he has been test-driving the Xiaomi SU7 electric car for 6 months now, and it’s so impressive that he doesn’t want to give it back.
Farley disclosed that Ford imported a Xiaomi SU7 electric car from Shenzhen to Chicago for him to use. He explained that the Chinese electric car market has surged ahead of the Western world due to China’s government policies supporting electric car and battery production a decade ago. Farley pointed out that 70% of electric cars sold globally are made in China, and China excels in producing hybrid electric vehicles with long-range capabilities suitable for remote areas where charging stations are scarce.
Drawing a comparison between China’s current electric car situation and Toyota in the 1980s, Farley likened China’s rapid expansion in the global market to Japan’s but emphasized China’s larger scale as a country. Therefore, when a large-scale player like China enters the electric car market, they do so with great strength.
Ford’s current situation involves developing new affordable electric car models to compete with Chinese cars on cost. They are employing a special team called Skunk Works based in California, separate from the main company (similar to Lockheed Skunk Works aircraft design team in the past), as Farley believes that Ford’s traditional methods are no longer effective. He admitted that even he is unsure of the progress of the team, as his CEO badge does not grant him access to that building.
TLDR: Ford’s CEO, Jim Farley, has been impressed with the Xiaomi SU7 electric car after test-driving it for 6 months. He highlighted China’s dominance in the electric car market and Ford’s efforts to develop competitive electric car models.
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