According to a report by Taiwan's "China Times News" in the month, Jim Farley, CEO of Ford Motor Company, revealed that he has been driving an electric vehicle made by Chinese company Xiaomi for the past few months, using this experience to contemplate how to compete with the Chinese automotive industry in the future. He also mentioned that he no longer wishes to drive his previous car.

As reported, in a foreign podcast, Farley discussed with host Robert Llewellyn the Chinese electric vehicle industry and how traditional winners in the automotive sector are responding to the wave of electric vehicle transformation.

Ford Motor Company CEO Jim Farley (AP Photo/File)

Farley stated that the rapid growth of electric vehicles worldwide remains unchanged, but what is undergoing dramatic changes are the winners and losers within the industry. Moreover, the transformation is not limited to the automotive sector; it is reshaping the landscape of global industrial manufacturing. While Americans are contemplating how to develop electric architectures and software applications, the Chinese electric vehicle market has already begun to segment, with the fastest-growing segment being extended-range hybrid vehicles. Additionally, China holds a cost advantage. This is also altering global market dynamics and consumer brand preferences.

Host Llewellyn also mentioned that during his visit to Australia this year to visit relatives, he found that even his two relatives who are not interested in cars have switched to BYD. Farley said with a serious expression that the same is true in the Australian gasoline car market, where the best-selling brand is not Toyota or Ford, but the Great Wall Haval.

Farley pointed out that when a new technology is implemented, there will be a test of costs. Just like Henry Ford and his Model T in the past, the party with lower costs will have the opportunity to sell cars to high-cost markets. Considering that "Made in China" has proven itself worldwide in recent years, consumers will not feel that buying Chinese cars involves a significant risk. For Ford, the frequently discussed topic now is: how to compete with Chinese car companies and survive.

Farley said that his two visits to China in the past two years were like "epiphany" moments for him. He lamented that while people in Western countries have been talking about Apple's car, the "Chinese Apple" Xiaomi's vehicles are already on the road, selling tens of thousands per month. He said that Xiaomi has already become an industry giant and is a "consumer brand stronger than a car company."

Farley revealed that Ford managed to get a Xiaomi car from Shanghai to Chicago, and he has been driving it for a month now, with plans to continue driving it.