Ford CEO Jim Farley on Monday said he would drive a Chinese-made electric vehicle (EV) even though the company received billions of dollars in tax money to make the EV in the United States. admitted that he had done so.
Speaking to British actor Robert Llewellyn on Monday’s The Fully Charged Podcast, Farley said he owns a Xiaomi Speed Ultra 7 EV. According to Business Insider reports Wednesday. The base price of the vehicle is around $30,000 and it will only be available for purchase in China, according to the report.
“I don’t like to talk much about competition, but I’m on board with Xiaomi,” Farley said, Business Insider reported.
“I flew from Shanghai to Chicago. I’ve been driving for six months now and I don’t want to let it go,” Farley added, according to the report.
The U.S. Department of Energy (DOE) previously announced In July 2023, it conditionally promised a loan of up to $9.2 billion to battery manufacturer BlueOval SK. The conditional agreement was intended to finance the construction of a manufacturing plant to make EV batteries for Ford.
In September, Ford announced it would offer free chargers and home amenities in hopes of attracting more EV buyers. The company announced in August that it was canceling plans to build a three-row electric SUV and previously reported a loss of $1.3 billion in the first quarter of this year. (Related: Biden-Harris administration recalls hundreds of electric buses over fire concerns)
Visitors look at the Ford Capri electric car unveiled at the Paris Motor Show at Paris Expo in Porte de Versailles, Paris, on October 15, 2024 (Photo by: Dimitar DILKOFF/AFP) (Photo by: Dimitar DILKOFF/AFP) DIMITAR DILKOFF/AFP, Getty Images)
The Biden-Harris administration is aiming to expand domestic production of EVs as part of President Joe Biden’s green energy policy. As Chinese automakers continue to dominate the market, the administration has provided large sums of money to help finance domestic EV projects.
Other major U.S. automakers are also struggling due to lack of demand in the EV market. General Motors reported a $1.7 billion loss in sales and production of its EV products in January.
Ford did not immediately respond to a request for comment from the Daily Caller News Foundation.
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