Ford CEO tells employees Chinese automakers could enter US market in next decade
F•Ford says Chinese automakers could eventually enter the U.S.
DETROIT, July 30 (Reuters) - Ford CEO Jim Farley told employees in a town hall on Thursday that the company is preparing for the possibility that Chinese automakers could enter the American market in the next five to 10 years, even though the country has erected numerous trade barriers to cars from China, according to three people who viewed the meeting.
Farley has been among the most vocal about how competitive Chinese auto giants like BYD are in the industry. Ford is preparing to roll out a family of affordable electric vehicles that it engineered from the ground up to match the cost and efficiency of the Chinese companies.
The Ford chief, along with other senior leaders, said in a question-and-answer portion of the town hall that it is more likely Chinese companies would enter the market at the latter end of that range. The comments come as the U.S. Senate is pushing to expand a ban on Chinese car sales in the world's second-largest and most lucrative auto market.
