Ford CEO Jim Farley Humbled by Tesla's Technology
Ford CEO Jim Farley expressed humility after his team dissected a Tesla Model 3, revealing the sophistication behind Tesla's electric vehicle (EV) technology. He noted that Ford’s Mustang Mach-E contains over 1.6 km more electrical wiring than the Tesla, adding weight and increasing battery demands.
“I was very humbled when we took apart the first Model 3 Tesla and started to take apart the Chinese vehicles,” Farley said during an interview on the Office Hours: Business Edition podcast.
Comparison with Chinese Rivals
Farley also praised the EV technology of Ford’s Chinese competitors, recognizing their advancement as comparable to how Japanese automakers were viewed in the 1980s.
Current EV Market Challenges
He pointed out that the U.S. EV market differs significantly from earlier expectations, a sentiment shared by former Ford CEO Mark Fields. Despite these challenges, Farley reaffirmed Ford’s dedication to electric vehicles.
“We can’t walk away from EVs, not just for the US, but if we want to be a global company,” Farley stated.
Potential Production Changes
Amid this commitment, reports suggest Ford might halt production of the F-150 Lightning, highlighting the difficulties faced in the evolving EV sector.
Author’s summary: Ford CEO Jim Farley acknowledges Tesla’s technological lead and evolving EV market challenges but remains committed to expanding Ford’s electric vehicle presence globally.