Just days after saying Chinese carmakers should be kept out of America, Ford Motor’s top executive said his company is looking to expand business ties to Chinese automakers.
Chief Executive Officer Jim Farley told Fox News on Monday: “We should keep them out of our country.”
But speaking to reporters Wednesday about a reorganization at Ford, Farley seemed to try to walk back his tough words on China.
He said his company benefits from partnerships with Chinese carmakers, who are rewriting the rulebook with their low-cost, high-tech offerings.
“We value our Chinese partners, they help us stay sharp and compete in many markets around the world,” Farley said.
“We will continue to expand these partnerships.”
Farley added that he had “no news” to announce. Ford has been in discussions with Zhejiang Geely Holding Group about sharing manufacturing capacity in Europe and with BYD Co. about potentially supplying batteries for gas-electric hybrid vehicles.
In China, Ford has alliances with Chongqing Changan Automobile and Jiangling Motors Corp.
Farley also told Trump administration officials earlier this year that if Chinese carmakers want to build cars in America, they should have to form joint ventures where US automakers hold controlling stakes in order to protect the domestic industry.
That arrangement would mirror what China required of western automakers three decades ago when they set up factories there.
“My point is not to be anti anything or against anyone; it’s to be an advocate for a strong US auto industry,” Farley said in trying to clarify his comments on Fox. We need “to really figure out our policy, both company policy and government policy, because the stakes are so high at this moment.”
Farley, who’s praised the quality and technology of Chinese cars in the past, added that global automakers that don’t “become fit like the best of the Chinese” won’t “be around much longer.”
BLOOMBERG