Ford CEO tells employees Chinese automakers could enter U.S. market in next decade

Detroit, July 30 (Reuters) - Ford CEO Jim Farley told employees in a town hall Thursday that the company is preparing for the possibility that Chinese automakers could enter the American market in the next five to ten 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 002594.SZ 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 these Chinese companies.

The Ford F.N chief, along with other senior leaders, said it is more likely that Chinese companies would enter the market at the latter end of the five- to ten-year 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.

A Ford spokesperson declined to comment on discussions that took place during a private meeting with employees.