acf domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/ecg/ecgassociationdev/wp-includes/functions.php on line 6121Reuters — 2023-06-19
Automotive Industry
Ford Motor Executive Chairman Bill Ford said the United States was not ready yet to compete with China in the production of electric vehicles.
"They developed very quickly, and they developed them in large scale. And now they're exporting them," 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 said.
In February 2023, the automaker announced plans to invest $3.5bn to build an electric vehicle battery plant in Michigan in a deal which involved using technology from Chinese battery company CATL, attracting attention from U.S. Senator Marco Rubio who asked the Biden administration to review the deal.
Bill Ford, who is the great-grandson of company founder Henry Ford, said in the program that the Michigan battery plant is a chance for Ford engineers to learn the technology and then use it themselves.
"It (Michigan) is a wholly owned Ford facility. They'll be our employees, and all we're doing is licensing the technology. That's it." he said.
Ford CEO Jim Farley said in May 2023 that Chinese electric vehicle makers are its main rivals in the sector, and that Ford needs distinctive branding or lower costs to beat Chinese automakers.
"I think we see the Chinese as the main competitor, not GM or Toyota. The Chinese are going to be the powerhouse," he said.