Ford CEO Reveals Shocking Findings in Competitor Analysis
Ford CEO Jim Farley shared a surprising discovery after examining rival electric vehicles, which motivated a tough strategic shift for the company. This insight comes as Ford aims to keep pace with Tesla and emerging Chinese EV manufacturers.
Insights from Vehicle Teardowns
Farley explained that dismantling competitors’ cars, a common practice in the auto industry, revealed significant differences. For example, the Ford Mustang Mach-E contains about 1.6 km (nearly a mile) more wiring than the Tesla Model 3.
Similar surprises emerged when Ford analyzed Chinese electric vehicles.
“I was very humbled when we took apart the first Model 3 Tesla and started to take apart the Chinese vehicles. When we took them apart, it was shocking what we found,”
Farley shared this during an episode of the Office Hours: Business Edition podcast, as originally reported by Business Insider.
Strategic Response to Competition
The startling discoveries helped Ford realize it needed to adapt to compete in the fast-evolving electric vehicle market, especially given rapid innovation by Chinese automakers.
In 2022, Farley initiated a new division named Model E dedicated to accelerating Ford’s electric vehicle innovation and presence.
About Ford and Its Electric Vehicle Ambitions
- Ford, founded in 1908, is a pioneer in the automotive world, famous for launching the Model T.
- The company has faced challenges keeping up with newer industry leaders in EV technology.
- Model E division focuses on advancing Ford’s electric vehicle technology and competitiveness.
Author’s summary: Ford’s CEO Jim Farley uncovered surprising technical differences in rival EVs, prompting significant strategic moves to strengthen the company’s electric vehicle innovation against Tesla and Chinese competitors.
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