Ford Motor Company Has Set Its Sights on China

Ford Motor Company, which is currently ranked the number three player in the U.S. electric vehicle market, is a global car manufacturer that has been working on developing electric vehicles for several years. In 2019, Ford announced plans to invest $11 billion in electric cars over the next few years. Ford is committed to advancing electric vehicle technology and providing sustainable transportation options for consumers around the world. Now, Ford has set its sights on China, the world's second-largest Electric Vehicles market.

Facing a booming and hyper-competitive market for electric vehicles (EVs) in China, Ford Motor Co (F.N) needs to reshape its brand for the world's largest car market, Chief Executive Jim Farley said.

 

Farley just returned from a trip to China, saying it was notable the only premium brands succeeding in China were all-electric from the start, with a focus on technology, the "digital experience" of drivers and services.

 

Farley, who appeared by video at the Shanghai auto show this week, said BYD, which sells the most-popular electric vehicles in China and dominates the market for electric vehicles and plug-in hybrids, had a singular lead in controlling all the key elements in its supply chain.

 

"There is one huge company that is so impressive, BYD. They're in a totally different world than Tesla," he said.

 

"They're totally vertically integrated, completely, all the way to batteries. No one is doing that on the globe."

 

“ We are working together with our partners to deliver a superior and distinctive branded experience for our customers in China and around the world, and continue delivering on the ‘Best of Ford, Best of China’ commitment. Moving forward, we will still deliver great new products globally plus develop valuable, always-on relationships that grow and evolve over time.”