A Ford electric car model
Business Insider reported on September 17 that two top leaders of Ford Motor Company (USA) were shocked after test driving a Chinese-made electric car.
The test drive took place last year but was only recently reported. According to the report, CEO Jim Farley and CFO John Lawler visited China last year and decided to test drive an electric SUV made by Changan Automobile.
The Chinese state-owned automaker is a long-time joint venture partner of Ford. The quick test drive, with Mr. Farley driving and Mr. Lawler in the passenger seat, gave Ford executives a taste of what it’s like to drive a Chinese-made electric vehicle.
Both men were shocked and impressed by the smooth and quiet ride. “Jim, this is like nothing we’ve ever seen before. These guys have outdone us,” Mr. Lawler told Mr. Farley, according to The Wall Street Journal .
Mr. Farley’s fears were rekindled in May when he made another trip to China. “John, this is an existential threat,” Mr. Farley told Ford board member and former Goldman Sachs executive John Thornton after his trip.
A Ford representative did not immediately respond to a request for comment.
Chinese automakers like BYD have dominated the electric vehicle race. Chinese automakers have made inroads into developing markets like Brazil and Mexico, as well as Southeast Asian countries like Thailand.
Chinese automakers accounted for 88% of the electric vehicle market in Brazil and 70% in Thailand in the first quarter of this year, according to data compiled by technology firm ABI Research.
China's rapid growth of electric vehicles has prompted the West to impose trade restrictions.
In May, the US imposed a 100% tariff on electric vehicles imported from China. The European Union followed suit a month later.
Ford is not the only American automaker facing competition from China. Billionaire Elon Musk's Tesla was dethroned as the world's largest electric car maker by China's BYD late last year.
Source: https://thanhnien.vn/hai-lanh-dao-ford-bi-soc-sau-khi-lai-thu-xe-dien-trung-quoc-185240917175924979.htm
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