Ford CEO: will make its own electric car parts to prevent workers from losing their jobs and improve competitiveness

CTOnews.com, Nov. 16 (Xinhua) Ford Motor CEO Jim Jim Farley said on Tuesday that the company is trying to make as many parts as possible for its electric vehicles to offset the 40 per cent reduction in the number of workers needed to build electric cars than expected.

In addition to being meaningful to businesses, retaining jobs and labor is another reason Ford wants to make more parts internally rather than buying from suppliers, Mr. Farley said. Ford plans to build such a business himself, not by acquisitions, he said.

Currently, Ford electric vehicle Mustang Mach-E 's motors and batteries are purchased from other companies, and Farley said that this will not happen again in the future, and it is necessary to bring in the production of electric vehicle motors, batteries and other components internally to preserve jobs and improve competitiveness.

Ford, which is building a lithium-ion battery plant called BlueOvalSK in central Kentucky through a joint venture with South Korea's SK Innovation, and a large 3600-acre park in western Tennessee, announced a $11.4 billion investment late last year.

In addition, Farley has hired executives from outside the auto industry to lead electrification and software development. But he said Ford must better train managers from within. "We can't keep hiring from the outside," he said. "

CTOnews.com learned that Tesla currently makes many parts for its electric vehicles, including batteries, and Tesla's profit margins are now better than those of Ford and many other established carmakers.