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Benzinga
  • 6 minutes ago
Ford CEO Jim Farley said he wants to keep Chinese automakers out of the U.S., citing manufacturing, safety, and cyber risks. Ford denied joint venture talks with Xiaomi but confirmed discussions with BYD and Geely. Ford is pausing EV growth efforts and planning a renewed push in 2027, including a mid-size electric pickup starting near $30,000. China's vehicle manufacturing capacity exceeds 50 million units annually.
Transcript
00:00It's Benzinga, bringing Wall Street to Main Street
00:02Ford paused its electric vehicle growth efforts and is planning a renewed push in 2027
00:07with lower-cost production and new models. CEO Jim Farley told Fox & Friends that he wants to
00:15keep Chinese automakers out of the U.S., citing risks to American manufacturing,
00:20safety concerns, and cyber and privacy issues. He said China's manufacturing capacity exceeds
00:2550 million vehicles and warned that allowing imports would be devastating to American
00:30manufacturing, which he called the heart and soul of the country. Ford denied reports of joint
00:36venture talks with Xiaomi but confirmed discussions with BYD and Geely on partnerships. The U.S.
00:42currently imposes tariffs above 100% on Chinese vehicles. Ford plans a midsize electric pickup
00:48in 2027 with a starting price near $30,000. For all things money, visit Benzinga.com.
00:54For all things money, visit Benzinga.com.
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