On The Onslaught Of Chinese Electric Vehicles, Ford: We Are Not Ready On EV

Ford Mustang EV. (Doc. Ford)

JAKARTA - The electric vehicle revolution is coloring the automotive world, with several manufacturers launching amazing electric-powered models. It is undeniable that manufacturers from China have mastered this segment with the courage to assemble quality electric cars at affordable prices and advanced technology.

In this electric vehicle attack, Ford CEO Jim Farley did not hesitate to praise the progress of Chinese manufacturers in the EV segment. However, Ford's Executive Chairman, Bill Ford, acknowledged that the fierce competition from China has left automotive US giants like Ford not yet fully ready to compete in the electric vehicle segment.

"They haven't been here yet, but they will. At one point, we have to be ready, and we are preparing," Farley was quoted as saying by CarBuzz, Monday, June 19.

However, that doesn't mean Ford is giving up on electric vehicles. They also want to engage in the electrification revolution by investing $3.5 billion to build a new battery factory in Michigan, USA, in collaboration with China's Contemporary Amperex Technology Co. Limited (CATL).

Although this collaboration presents controversy and potential geopolitical conflicts, Ford feels that working with the company and building state-of-the-art factories is the right move.

With the construction of this plant, it is hoped that the prices of electric vehicles such as the Ford Mustang Mach-E and the F-150 Lightning can drop. Ford will also license technology from CATL to help their engineers learn about the technology.

Meanwhile, General Motors (GM) has not fully shifted its focus to electrification. The company that is the parent of well-known brands such as Chevrolet, Cadillac, and GMC recently invested billions of US dollars to develop fossil fuel vehicle production factories.

Previously, GM had announced that production of their electric hatchback, Bolt EV, would be discontinued by the end of 2023. Now, GM is only relying on the sale of Chevrolet Equinox EVs and GMC Hummer EVs that still haven't received a huge welcome from consumers.