THE CEO of Ford has left car lovers shocked with a confession that he drives a car that’s not made by his own company.
Ford boss Jim Farley admitted he drives a Chinese electric vehicle – and he doesn’t plan on giving it up anytime soon.
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Farley revealed on the Fully Charged Podcast that he’s been driving the Xiaomi SU7, which is an electric sedan made by Chinese tech giant Xiaomi, for the past six months.
“I don’t like talking about the competition so much, but I drive the Xiaomi,” Farley told British actor Robert Llewellyn on the show.
“We flew one from Shanghai to Chicago, and I’ve been driving it for six months now and I don’t want to give it up.”
Farley continued to praise the car.
“It’s fantastic, and they’re sold out for six months!” he said.
The SU7 is available for about $30,000 and is so popular that, as Farley said, the auto manufacturer is facing delays in shipping the cars to customers because there are so many orders.
China is known for making cheap, high-quality EVs, while Ford notoriously has high prices for their EVs.
The cheapest 2024 Ford EV is the Mustang Mach-E, starting at $39,995 new.
Farley said on an earnings call earlier this year that the auto giant plans to come out with a more affordable EV.
Bloomberg Businessweek reported in March that the first low-cost model starting around late 2026 will be priced at around $25,000.
Meanwhile, Chinese motors giant BYD sells their Seagull, one of their most popular vehicles, for as low as $10,000.
Farley, who has been with Ford since 2007, said on the podcast that Chinese auto manufacturers can afford to have competitive prices because they had a headstart in the EV field.
“China made this commitment more than a decade ago, far before any of the Western countries fell in love with pure electrification,” Farley said.
“They have IP that the rest of the world has not developed.”
Electric vehicles vs gas
Pros and cons of EVs vs gasoline-powered vehicles
EV PROS:
- Convenient (when charging at home)
- Cheaper (depending on state or city)
- Cheaper maintenance, due to lack of mechanical parts
- Great for commuting
- Reduced CO2 emissions
- Federal and state tax incentives
- More performance (speed, handling – depending on the make and model)
EV CONS:
- Higher initial cost
- Higher insurance rates
- More frequent tire and brake replacement intervals
- Higher curb weight (thus causing more rapid wear on crucial parts)
- Low resale value
- High depreciation rates
- Lack of charging infrastructure
- Unreliable public charging (related: slow charging times)
- Poor winter and summer performance
- Lack of clean energy alternatives means more “dirty energy” from coal and nuclear sources
- Range anxiety
GAS PROS:
- Highly developed refueling infrastructure
- Fast refueling
- Cheaper insurance rates, depending on make, model, and configuration
- Established repair industry
- Lower initial cost
- Higher range before refueling, especially with hybrids
- Many manufacturers produce nearly emission-less engines
- Cheaper refueling, depending on the location
GAS CONS:
- Finite resource (related: heavy dependence on petroleum)
- Carbon emissions/greenhouse gases
- Higher repair costs
- Higher insurance rates, depending on make, model, and configuration
- Varying costs at the pump, depending on state, city, and county
Source: Car & Driver, Perch Energy, AutoWeek
He then spoke highly about the structure of Chinese car companies.
“It has been something we’ve been watching for a while, but I’ve had two trips to China the last two years that were literally epiphanies,” he said.
The CEO added that he recognizes it would be difficult for Ford to compete with companies like BYD and Xiaomi, which is why he’s focusing on a “ground up” team looking for fresh technological developments.
FAITH IN THE FUTURE
YouTube users shared their surprised reactions to Farley’s confession in the comments of the podcast’s video.
“Holy crap!!! For the CEO of Ford to say he’s been driving a Chinese EV for the past 6 months and he doesn’t want to give it up is just Jaw dropping,” one wrote.
“I had to rewind it and hear it again. No other CEO would dare say what he just said. I’m shocked!”
“Jim Farley was great in this interview. He was transparent, took accountability, and laid the plan to move forward. This gave me faith in Ford’s future,” another shared.
“Wow! I just love how straightforward Jim Farley is. That alone makes me hopeful about Ford surviving the transition,” a third shared.
Two days after the interview came out, Farley appeared to address his confession with a statement on X.
“I try to drive everything we compete against,” he wrote.
“Have done it my whole career. Specs can tell part of a story, but you’ve got to get behind the wheel to truly understand and beat the competition.”
The U.S. Sun has reached out to Ford and Farley for comment.
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