NVDA
NVIDIA
-- 109.670 TSLA
Tesla
-- 263.550 PLTR
Palantir
-- 85.850 AMZN
Amazon
-- 192.720 AAPL
Apple
-- 217.900 
Ford CEO doesn't want to give up the Xiaomi SU7 he's been driving for months
Ford CEO Jim Farley has been driving a Chinese EV over the past six months, calling it "fantastic." After flying the Xiaomi Speed Ultra 7 (SU7) from Shanghai to Chicago, Farley doesn't want to give it up.
It's no secret that China is dominating the EV industry, aside from Tesla. Farley recently sounded the alarm, calling Chinese EV makers an "existential threat" to the industry. China has been innovating its EV industry at a rapid pace, leaving other countries in the dust.
Ford's CEO was shocked after visiting China earlier this year. Farley warned rivals that if they fail to keep up with the Chinese, "then 20% to 30% of your revenue is at risk."
"As the CEO of a company that had trouble competing with the Japanese and the South Koreans, we have to fix this problem," Farley explained at a conference in Feb.
Farley praised Chinese EVs, calling BYD's cheapest electric car, the Seagull, "pretty damn good." Starting at under USD10,000 (69,800 yuan), BYD's Seagull has topped the sales charts in China over the past few months. BYD sold nearly 43,500 Seagull models in China last month alone.
Now, Ford's CEO is testing China's Apple Car. On the Fully Charged Podcast Mon, Farley said he's been driving Xiaomi's first self-developed electric car, the SU7, for six months and "doesn't want to give it up."
Although everyone has been talking about the Apple Car, which is now canceled, Xiaomi's car is on the road today, and "it's fantastic," according to Farley.
Farley called Xiaomi an "industry juggernaut," claiming it's "a consumer brand that's much stronger than car companies."
The company sells "10,000, 20,000 a month. They're sold out for six months," Farley said on the podcast.
Ford's leader later added that the company shifted to smaller, more affordable EVs after realizing "the institution of Ford would have a really tough time competing with BYD."
The company "needed a ground-up team" to compete. Ford has a "skunkworks" team filled with former Tesla, Rivian, Lucid, and Apple talent developing what's promised to be one of the most efficient EV platforms.
Farley said his badge doesn't even work at the facility, adding, "That's how extreme of an approach we needed to compete against BYD."
Even rivals like Volkswagen, with its MEB platform, are still partnering with Chinese OEMs “because they couldn't do it," Farley explained.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
bullrider_21
Moo Contributor
Follow me to get useful analysis, learn TA and make profitable trades.
Maximise profit 利润最大化
12K
Followers
55
Following
34K
Visitors
Follow
SoundOfMusic : Xpeng Tech Day will be on Nov 6th.
bullrider_21 OP SoundOfMusic : They changed to Xpeng AI Tech Day and it will be on 6 Nov?
soyabean89 : hope ford either collaborate or do something about their ev pipeline...crazy till now they can't reduce the losses per car... aiyo
bullrider_21 OP soyabean89 : Else it wll be difficult for them to survive.
soyabean89 bullrider_21 OP : ya ..wat a joke for a century old legacy brand.. complacency of leadership is strong ...like Intel...
wishy washy with their ICE and half commitment on ev rather than double down
bullrider_21 OP soyabean89 : They just rely on tariffs. All US carmakers are complacent. They just want to sell expensive cars to maintain their profits. But the people want affordable cars.
bullabull : They will eventually copy the Chinese EVs which are years ahead