Ford CEO says it's 'too late' for Europe to fend off Chinese automakers, but not for U.S.
CEO Jim Farley's warning comes on the heels of a high-profile visit last week by Chinese President Xi Jinping with President Donald Trump
TL;DR
- Ford CEO Jim Farley advises U.S. politicians to learn from Europe's experience with Chinese automakers.
- He stated it's "too late" for Europe to address the issue but not for the U.S.
- Global market share for Chinese brands has surged, reaching 12% in Europe.
- Ford partners with Chinese companies in some areas while also planning to compete with them.
- Legislation is being considered in Congress that could restrict or ban Chinese automotive brands in the U.S.