MW Ford's CEO loves his electric vehicle. One issue - it's not a Ford. And it's made in China.
By Steve Goldstein
Ford Motor Co. CEO Jim Farley has fallen in love with an electric vehicle.
"It's fantastic," said Farley on the Fully Charged podcast. "They're sold out for six months."
The car however is not one that Ford produces. It's out of China - the Xiaomi SU7.
He said the car was flown from Shanghai to Chicago and that's he's driven it for six months. "I don't want to give it up," said Farley.
Farley talked of Ford's efforts to develop a next-generation EV with a research team in Silicon Valley. "I can't even get in the building," he said. "That's how extreme of an approach we needed."
Ford $(F)$ will report its third-quarter results next week. The stock has dropped 9% this year.
Xiaomi's stock (HK:1810), perhaps not surprisingly, has surged this year, jumping 62%.
-Steve Goldstein
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
October 24, 2024 09:58 ET (13:58 GMT)
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