Ford Motor's CEO, Jim Farley, has voiced his concerns after delving into the inner workings of Tesla and Chinese electric vehicles (EVs). He uncovered a substantial performance and design gap between Ford and its rivals, which has spurred him to initiate a sweeping overhaul of the company. Citing the Ford Mustang Mach-E as a case in point, Farley pointed out that it incorporates roughly 1.6 kilometers more wiring than a Tesla, which, in turn, escalates the vehicle's weight and battery expenses.

In 2022, Farley took a bold step by spinning off Ford's EV business into a standalone entity, Model E. Despite the division's current financial losses, Farley stands by his decision. He has consistently sounded the alarm that Chinese EV behemoths pose a grave threat to Western automakers, including Ford. Farley has underscored that Chinese EVs outshine their Western counterparts by a wide margin, with brands like BYD commanding a significant presence in the global market.

Nonetheless, Farley has also openly expressed his admiration for Chinese EVs, having personally driven a Xiaomi electric sedan for six months. He stressed that Ford cannot afford to retreat from the EV market and must redouble its efforts to emerge as a truly global player.