Chairman of Ford: the United States cannot compete with China in the production of electric vehicles

CTOnews.com, June 19 (Xinhua)-- Bill Ford, executive chairman of Ford Motor, said the United States is not ready to compete with China in electric vehicle production, according to Reuters.

"they are growing very fast, and they are producing on a large scale, and now they are still exporting," Ford said on CNN's "Fraid Zakariya GPS" Sunday program. "they are not here yet, but we think they will come here sooner or later. We need to be prepared. We are preparing."

In February, Ford announced plans to invest $3.5 billion to build an electric car battery factory in Michigan that will use the technology of the Ningde era, a Chinese battery company. The deal attracted the attention of U.S. Senator Marco Rubio, who asked the Biden administration to review the deal.

Bill Ford, the great-grandson of company founder Henry Ford, said on the show that the battery factory in Michigan is an opportunity for Ford engineers to learn technology and use it themselves.

"this is a factory that belongs entirely to Ford. They will be our employees, and all we do is authorize the use of technology, that's all." He said.

Jim Farley, Ford's chief executive, said in May that Chinese electric carmakers were the main competitors in the sector and that Ford needed a unique brand or lower cost to beat Chinese carmakers. "I think we see the Chinese as our main competitors, not GM or Toyota, and the Chinese will be a powerful force." He said.