Ford’s Executive Chairman Talks Electric Vehicles in China
Electric vehicles have been making strides in the automotive industry, but according to Ford Motor’s Executive Chairman, Bill Ford, the United States isn’t ready to compete with China just yet. In a recent interview with CNN’s ‘Fareed Zakaria GPS’ program, Ford shared his insights about China’s development of electric vehicles and the steps Ford is taking to get ready for the future. Let’s dive deeper into why Ford Motor is investing in electric vehicles and how the company is preparing for a potential shift in the market.
China has been investing heavily and quickly in the production of electric vehicles, and their efforts are paying off. Currently, they are the leading producers of electric vehicles in the world, and they are exporting them globally. While Ford is not in direct competition with China, Ford’s Executive Chairman recognizes the potential threat to the U.S. automotive industry and believes that it’s essential to get ready to compete.
In February of this year, Ford announced that they would be investing $3.5 billion to build an electric vehicle battery plant in Michigan. This investment was made in collaboration with Chinese battery company CATL, which caught the attention of U.S. Senator Marco Rubio, who called for a review of the deal. Despite the controversy, Ford Motor’s Executive Chairman sees this as a chance for Ford engineers to learn about the technology and eventually use it themselves.
Electric vehicles provide numerous benefits, including improved fuel efficiency and reduced carbon emissions. As the world makes strides towards sustainability and combating climate change, the demand for electric vehicles continues to grow. Ford Motor recognizes this and is positioning themselves to meet the anticipated increased demand for electric vehicles in the future.
Furthermore, Ford has focused on developing and deploying innovative technologies that support the transition to electric vehicles. An example of this is Ford’s new “Intelligent Range” technology, which optimizes the battery range and predicts how much energy will be used based on driving behavior and the surrounding environment. In addition, Ford has also been developing new fast-charging technology, which promises to decrease the time it takes to charge an electric vehicle significantly.
Here are the interviews:
The electric-vehicle revolution: Can the US catch up?
Part 1 of my interview with Bill Ford, exec. chair of the @Ford Motor Co. (which his great-grandfather founded 120 yrs ago Friday), on the EV cost curve, Biden’s green-investment policies, and the current economic climate: pic.twitter.com/n33ErkEF30
— Fareed Zakaria (@FareedZakaria) June 18, 2023
From today’s GPS: part 2 of my interview with @Ford Motor Co. exec. chair Bill Ford, on the global race for the gigantic electric-vehicle market—and whether the US can compete with China as our EV future quickly arrives pic.twitter.com/fbqGvefB1K
— Fareed Zakaria (@FareedZakaria) June 18, 2023
While China may have a headstart in the production of electric vehicles, it’s essential to note that Ford Motor is investing heavily in research and development to create their own innovative electric vehicle technology. The company recognizes the potential market shift towards electric vehicles and wants to be a leader in that space. It’s important to remember that while China may be the current leader, the automotive industry is continuously evolving, and who is on top today may not be tomorrow. As a result, it’s vital for companies to stay ahead of the curve and invest in their futures, just like Ford Motor is doing.