AutoBeta Home News New Vehicle Industry Report Data Report Industrial Economy

In addition to Weibo, there is also WeChat

Please pay attention

WeChat public account

AutoBeta

Ford CEO praises BYD: fully vertically integrated and aggressive

2024-03-03 Update From: AutoBeta autobeta NAV: AutoBeta > News >

Share

AutoBeta(AutoBeta.net)05/28 Report--

Jim Farley, Ford's chief executive, told the Morgan Stanley Sustainable Finance Summit (Morgan Stanley Sustainable Finance Summit) on May 25 that the company's biggest competitor in electric vehicles was not GM or Toyota, but Chinese electric carmakers, which listed BYD, Geely, Great Wall, Changan and SAIC as "winners" for Chinese carmakers.

image

Asked which company did well in electric cars, Farley said, "I like BYD." Fully vertical integration, positive and enterprising. Very impressive companies, they are always committed to the development of electric vehicles. " He also pointed out that compared with the US lithium-ion battery industry standard, BYD's lithium iron phosphate (LFP) battery technology has an advantage, "this is a better battery, basically no fire risk, and the charging cycle is twice as long as lithium-ion battery."

image

To beat Chinese car companies, Mr Farley says, "either we have a very unique brand and we think we can rely on our brand to do that, or we have to beat them in cost". But if Chinese car companies are five times the size of yours, how do you beat them in cost?

Since it announced the suspension of fuel vehicles in April 2022, BYD has come to the fore in the domestic automobile market by relying on new energy vehicles, surpassing Tesla to become the world's largest new energy vehicle manufacturer, and surpassing FAW-Volkswagen to end the history of joint ventures monopolizing the Chinese market for more than 20 years.

In this context, BYD began to accelerate the layout of overseas markets. In July 2022, BYD held a brand conference in Tokyo to announce its official entry into the Japanese passenger car market. In September 2022, BYD held an European new energy passenger car conference to launch Han EV, Tang EV and Yuan PLUS models to the European market, and debuted at the Paris Motor Show in October of the same year. In November 2022, BYD entered Brazil and held a press conference in Sao Paulo, Brazil, to launch the Song PLUS DM-i and Yuan PLUS models. In January 2023, BYD officially launched three electric models: ATTO3 (Yuan Plus overseas version), Dolphin and Seal in Japan.

image

BYD's crazy layout of overseas markets has also made other overseas carmakers aware of the crisis, and even Musk, who complained about BYD earlier, began to admit, "that was many years ago, and their cars are very competitive now."

image

In the face of the offensive of Chinese electric car manufacturers, Ford's uncompetitive electric vehicle products appear to be powerless. In February, Ford announced that it would invest $3.5 billion (23.9 billion yuan) to build a new energy vehicle battery plant in Michigan in partnership with Chinese new energy company Ningde Times. Ford said the plant is expected to employ 2500 workers. The plant is scheduled to start production in 2026 and will be able to produce enough batteries for 400000 electric vehicles a year.

image

According to the plan, Ford electric vehicles will account for half of its global sales in 2030. To this end, from 2022 to 2026, Ford will invest more than $50 billion worldwide in the development and manufacture of electric vehicles and batteries, with the goal of producing 600000 electric vehicles by the end of 2023 and more than 2 million electric vehicles by the end of 2026.

Welcome to subscribe to the WeChat public account "Automotive Industry Focus" to get the first-hand insider information on the automotive industry and talk about things in the automotive circle. Welcome to break the news! WeChat ID autoWechat

Views: 0

*The comments in the above article only represent the author's personal views and do not represent the views and positions of this website. If you have more insights, please feel free to contribute and share.

Share To

Network commentsNetwork comments are only for expressing personal opinions and do not express the position of this website

Related

News

Wechat

© 2024 AutoBeta.Net Tiger Media Company. All rights reserved.

12
Report