Chinese EV makers are existential threat to western auto giants, says Ford CEO

The Chinese carmakers have rapidly evolved into a major player in the electric vehicle (EV) market, posing an “existential threat” to legacy automakers like Ford. Following his visit to China, Ford CEO Jim Farley highlighted the advanced EV technology of Chinese manufacturers. To counter this competition, Ford is developing a new team focused on affordable EVs. Governments worldwide are imposing tariffs on Chinese-made EVs to protect their domestic automakers. The global response to the Chinese EV invasion includes the Biden administration imposing a 100% import duty on Chinese EVs. As Chinese automakers continue to innovate, the competition in the EV market is intensifying, challenging established Western brands like Ford.