Ford says that the United States is not yet ready to compete with China in electric vehicle (EV) production. In a report by Reuters, the Blue Oval company went on to say China is seen as its biggest competitor, and not General Motors and Toyota.
“They [China] developed very quickly, and they developed them in large scale. And now, they’re exporting them,” Ford Executive Chairman Bill Ford told CNN’s ‘Fareed Zakaria GPS’ Sunday program. “They’re not here but they’ll come here we think, at some point, we need to be ready, and we’re getting ready.”
Ford is competing in the EV race by investing $3.5 billion to build a new battery plant in Michigan in partnership with China’s Contemporary Amperex Technology Co. Limited (CATL).