Ford CEO Shares Shocking Discovery Inside a Tesla
Jim Farley, Ford's CEO, revealed a startling realization that prompted a major company overhaul after taking apart Tesla and rival electric vehicles (EVs) in China.
Wake-Up Call from Tesla and Chinese EVs
During an upcoming episode of the Office Hours: Business Edition podcast, Farley described how dismantling the first Tesla Model 3 and Chinese EVs revealed surprising insights.
"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."
He noted that Ford's Mustang Mach-E had about 1.6 kilometers more electrical wiring than Tesla’s Model 3, adding weight and necessitating a larger, costlier battery.
Industry Practice of Vehicle Teardowns
Examining competitors' cars is common in the automotive industry. For example, Xiaomi’s CEO recently disclosed that his team purchased three Tesla Model Ys for thorough component analysis.
Impact on Ford's Strategy
Since becoming CEO in 2020, Farley said these teardowns convinced him Ford needed significant changes to compete with newer EV rivals. In 2022, Ford created a new EV division called Model E to accelerate its electric vehicle efforts.
Summary: Ford’s CEO Jim Farley's eye-opening findings from dismantling Tesla and Chinese EVs spurred a strategic revamp to better compete in the evolving electric vehicle market.
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