1w ago

The CEO of Ford admits to purchasing and daily driving the Chinese EV Xiaomi Speed Ultra 7. He imported for his personal use; and he doesn't want to give up it. Must be nice.

finance.yahoo.com Ford's CEO says China's EV progress is 'the most humbling thing' he's ever seen

"We are in global competition with China, and it's not just EVs. And if we lose this, we do not have a future Ford," said Jim Farley, the CEO of Ford.

Technology @lemmygrad.ml

Ford's CEO says China's EV progress is 'the most humbling thing' he's ever seen

finance.yahoo.com /news/fords-ceo-says-chinas-ev-054800452.html

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Technology @lemmy.ml

Ford's CEO says China's EV progress is 'the most humbling thing' he's ever seen

finance.yahoo.com /news/fords-ceo-says-chinas-ev-054800452.html

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Honestly, if I was a Ford shareholder, I would be dumping my shares as fast as possible - there's no coming back from an open admission of defeat like that. He flat out said they can't win, the barriers of entry are too high, and the key one (software like Xiaomi) doesn't even really exist yet.
As others point out, the western automakers did this to themselves. Hoo boy did China out capitalism. Ironic
- I feel like the US is gonna be the cheap labor very shortly.
  
  Russia style petrostate feels the most likely. And in a time where fossil fuels are going through their death spiral (if in a somewhat prolonged manner).
- If you had even a tiny brain in your head you would see he's driving it to test out the competition. The article says he's made a lot of trips to China this year to look at their ev cars.
- See. I see this as the ceo version of "market research". It could bring something better.
  Tbh, maybe it's because I just watched 'Ford vs Ferrari', but imo I would want the higher ups to acknowledge they are fucking up and then change it.
  
  I don't think it's market research though said research can look like this. The messaging doesn't seem to line up.
  
  So you have an opinion based off an ad disguise as a movie you watched, you’re surely gonna love that new F1 movie for certain you love advertisement so much
- The F150 is America’s best selling vehicle and has been for the last 40+ years.
  
  Yes, but the dynamics of demand is rapidly changing. Look at the micromobility sector - there was nothing 5ish years ago, and now scooter and ebikes are everywhere.
  the only thing keeping Chinese vehicles out are trade restrictions. Look at Europe: VW is in dire straights because they can't compete with Chinese EVs.
  
  To be fair, VW is in it mainly because of Diesel gate and the several billions they owe because of it, but yeah as a consequence they also severely lack innovation especially in EVs
- Unfortunately, we live in a post-truth society where the vast majority of people have traded the pursuit of truth for the comfort of confirmation bias.
  And the last 6 months have shown us that the stock market is mostly just vibes and manipulation rather than being grounded in facts and reality.
- Ford stock has always been a terrible investment. Its PE ratio is a single digit for good reason.

44 comments