Ford CEO Jim Farley has issued a stark warning about China’s accelerating electric vehicle (EV) dominance, calling it “the most humbling thing I’ve ever seen.”
Speaking at the Aspen Ideas Festival, Farley praised China’s fast-evolving EV ecosystem, singling out Xiaomi’s SU7, a $30,000 electric car he’s personally driven, as an example of how far ahead Chinese manufacturers have pulled.
“Seventy percent of all EVs globally are made in China,” Farley told biographer Walter Isaacson during the panel. “And they’re far superior in both tech and cost.”
Farley, who has made six to seven visits to China in the past year, revealed that Chinese vehicles now offer better quality, seamless phone integration, and unmatched in-vehicle tech. “Huawei and Xiaomi are in every car,” he said. “You don’t even need to pair your phone — your entire digital life mirrors instantly.”
He stressed that American automakers are falling behind because Silicon Valley giants like Apple and Google chose not to fully enter the car business. “We’re now in a global competition with China. If we lose, there’s no future Ford,” Farley warned.
Farley also admitted he’s been driving Xiaomi’s SU7, the brand’s debut EV, for six months after shipping one from Shanghai to Chicago. “I don’t want to give it up,” he said.
Xiaomi, better known for smartphones, recently unveiled the YU7, a $35,000 luxury SUV designed to rival Tesla’s Model Y. The firm claims to have received over 200,000 orders, undercutting Tesla’s price tag of $36,760.
Meanwhile, Ford is rethinking its EV roadmap. CFO John Lawler announced a pivot from all-electric SUVs to hybrids, a move expected to cost the automaker nearly $2 billion.
As of June, Ford shares are up 9% year-to-date. The company declined to comment on Farley’s remarks.
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