Ford Faces Pressure to Stay in the EV Game
Ford CEO Jim Farley shared that he was humbled after examining the inner workings of Tesla and Chinese electric vehicles, which revealed major efficiency gaps. This realization inspired Ford to rethink its entire electric vehicle strategy.
“I was very humbled,” Farley admitted during an episode of the Office Hours: Business Edition podcast, after taking apart a Tesla Model 3 and several Chinese electric cars.
The unexpected insights led Ford to focus on producing smaller, more affordable EVs that require fewer materials and smaller batteries. Farley emphasized that these next-generation vehicles will be more advanced and efficient than current models such as the Mustang Mach-E and F-150 Lightning.
New Direction for Ford’s EV Development
- Prioritizing compact, cost-effective electric models.
- Reducing battery size and overall material use.
- Improving efficiency and performance in the next generation lineup.
Farley revealed that the existing Mach-E includes around 1.6 kilometers of wiring, which contributes to heavier batteries. This inefficiency, he explained, is among the issues being corrected in Ford’s ongoing redesign.
“Chinese EV makers are an existential threat to Western automakers,” Farley cautioned, underscoring the urgency for innovation.
After personally testing a Xiaomi SU7 shipped from Shanghai to Chicago, Farley admitted he grew fond of the car and found it hard to part with. He noted that electric vehicles are booming in China, supported by strong governmental backing.
“EVs are exploding in China,” Farley said, adding that the government has its “foot on the economic scale” to accelerate the transition to electric mobility.
Author’s Summary
Jim Farley’s candid reflections mark a turning point for Ford, reaffirming its commitment to develop smaller, smarter EVs to survive mounting competition from China.
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