- Ford CEO Jim Farley says he no longer pays attention to Tesla.
- He noted that the company does not have any updated vehicles.
- Ford compares itself to BYD, China’s best-selling automaker.
Over the last decade or so, Tesla has set the standard for electric vehicles. Although the brand has been around since the mid-2000s, launching its Lotus-based Roadster in 2008, it wasn’t until the 2010s that the rest of the industry started to take notice. But according to one CEO, Tesla is not that competitive right now.
Ford CEO Jim Farley has spoken at length about his admiration for China’s electric vehicles. He even recently tested the Xiaomi SU7, which he said was a new benchmark. In Quick response podcast, the Blue Oval boss said:
“If you’re an American and want us to beat China in the car business, you should be looking at them, not at Tesla. Nobody’s against Tesla. They’re doing fine, but you know what, they really don’t have updated vehicles.”
Photo by: Tesla
Tesla Problem
Tesla hasn’t launched a new vehicle since the reckless Cybertruck, and the automaker just completely updated the Model Y, its best-selling vehicle, for the first time since its launch in 2020. There were rumors that the automaker would launch a cheaper electric vehicle, but that hasn’t materialized, allowing the Chinese automaker to go further.
China’s automotive industry is now setting expectations for electric vehicles. According to Farley, Ford is targeting BYD, calling the brand “the best in the business for us” in terms of cost, supply chain and manufacturing expertise. It is China’s best-selling automaker, overtaking Volkswagen.
Motorcycle Pickup1: Farley is right to focus on Chinese automakers even though those cars are not sold in the United States. The automotive industry is a global market, and if Ford wants to remain competitive at home and abroad, it has to try to beat the best, and that’s no longer Tesla.
