Ford CEO Jim Farley Yet Again Praises Chinese Automakers
Ford CEO Jim Farley has once again praised Chinese automakers, in particular how they manufacture EVs. One has to seriously wonder why the guy is in his position and not working for Geely or Great Wall if he thinks they do such a better job than his company.Speaking on a panel at the Aspen Ideas Festival recently, Farley admitted he's gone to China at least six or seven times in the past year to study the auto industry there. The man went on to praise Chinese automakers and how superior they are to Ford at this point.
"It's the most humbling thing I have ever seen. Seventy percent of all EVs in the world, electric vehicles, are made in China," Farley said, according to Yahoo Finance.
What really fascinates Farley is all the flashy tech gizmos incorporated into Chinese cars. "They have far superior in-vehicle technology. Huawei and Xiaomi are in every car," Farley said. "You get in, you don't have to pair your phone. Automatically, your whole digital life is mirrored in the car."
What he fails to mention is how the Chinese Communist Party tracks the movements of citizens, cutting off access to certain features based on their social credit score. Even what kind of car loan you can get, if any, is based on that system.
This sort of praise is reminiscent of American thought leaders who visited the Third Reich before the invasion of Poland and had nothing but amazement for all the 'great' things Hitler was doing for the German people.
Progress at any price does come at a steep cost.
Plus, one has to wonder if China isn't driving off a cliff with its government-mandated push into EVs. Farley obviously doesn't think so, which makes us wonder if he wishes our government were similarly authoritarian so he could offer 'superior' cars?
Image via Ford
Join our Newsletter, subscribe to our YouTube page, and follow us on Facebook.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Miami Herald
4 hours ago
- Miami Herald
Another luxury car maker is taken down by US tariffs
Car buyers have benefited from car manufacturers relying on incentives to get customers through the door. Consumer sentiment has fallen, but a sale is a sale, and people are taking advantage. "People are buying cars because they think tariffs are coming," one Mazda dealer said. Related: Investment bank says tariffs are devastating these businesses U.S. companies like Ford are in an especially advantageous position because they (usually) import fewer vehicles than their foreign competitors. Nearly half of American drivers cite car expenses as the reason they can't save any money, and the average American spends about 20% of their monthly income on auto loans, fuel, insurance, and maintenance. Most financial experts cap the monthly income you should spend on a vehicle at 15%. But according to a MarketWatch Guides survey, about 10% of drivers say they spend 30% of their monthly income on driving, while another 12% said they "found themselves living paycheck to paycheck due to the financial strain of their cars." Image source:On Monday, Mercedes-Benz said that in the second quarter, unit sales of cars and vans fell 9%, primarily due to tariffs. The luxury German brand delivered 547,100 cars and fans between April and June. Mercedes' Cars unit reported a 9% decline to 453,700 vehicles sold as support in the U.S and China both dried up. North America deliveries fell 14%, while China deliveries declined 19%. "Deliveries to dealerships were carefully calibrated to navigate new global tariff policies, impacting sales of Mercedes-Benz Cars in the U.S. and China in particular," Mercedes said. Related: Toyota makes a tariff move customers are going to hate European sales were up 1%, while sales in Germany rose 7%. Perhaps most concerning was the 18% drop in battery electric sales to 41,900 vehicles. According to a Bernstein note last week viewed by Reuters, Mercedes expects tariffs to play a big part in its performance this quarter. More automotive news: Detroit Big 3 benefit from auto tariffs now, but time is running outPopular Ford newcomer overtakes Jeep in a key areaToyota makes surprising move to beat Tesla in key market Mercedes expects tariffs to shave less than 3% from its second-quarter profit margin. The company seemed relieved about a number that would have been worse without "some de-escalation of tensions between the U.S. and China, some tariff offsets, and timing because tariffs were only ramping up in April." U.S. tariffs forced Mercedes-Benz, and many other automakers both foreign and domestic, to pull their guidance for the year due to lack of visibility. This is a smart move, given President Trump's mercurial decision-making on tariffs. The current pause on non-automotive tariffs is set to end on Wednesday, July 9, but the 25% auto tariffs that have been in place since March never went away. Mercedes operates two manufacturing plants in the U.S., one in Tuscaloosa and the other in Vance, Alabama. The plants produce four of its most popular models, the GLS and GLE SUVs, the GLE Coupe, and the new C-Class. The Tuscaloosa plant was Mercedes' first plant outside of Germany when it was completed in 1995. Today, the 1,000-acre site has over 5 million square feet of manufacturing space, and its facilities employ more than 11,000 Alabamians. Mercedes sold 324,500 passenger cars and 49,600 vans in the U.S. last year, representing 16.4% and 12.2% of sales, respectively. Related: Car buyers should shop these brands for the best tariff deal The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
CNBC
5 hours ago
- CNBC
CNBC Daily Open: Trump's tariff letters set the heart racing, but don't seem to promise anything new
Paramours wanting to court each other have, through the decades, moved on from courtly love letters to raunchy Instagram DMs. But some form of that epistolary tradition remains today in the stately realm of politics. U.S. President Donald Trump revealed Monday that he had written letters to the leaders of 12 countries, informing them of new tariff rates due to begin on Aug. 1. Upon first reading, the letter is enough to send the heart racing. It contains bold emotional declarations ("You will never be disappointed with The United States of America"), big double-digit numbers (between 25% and 40%, depending on the recipient) and a veiled threat should desire not be reciprocated ("These tariffs may be modified … depending on our relationship with your Country"). But if we take a step back, it appears that he letters' purpose might not be that different from the table of "reciprocal" tariffs Trump hoisted up at the White House's Rose Garden in April. The letters threaten stiff tariffs that will kick in on a certain date (or as certain as any deadline from the White House can be), unless countries negotiate with the U.S. for a trade deal. Even the tariff numbers aren't that far from what was initially revealed. In other words, the letters might just be a restaging of April's events. "If you go through the details, I don't even know if anybody understands the difference between what was announced today, what was there previously, and if it will actually be implemented, and which companies it actually impacts," Trivariate Research CEO Adam Parker said Monday on CNBC's "Closing Bell." Trump on Sunday, in response to whether the deadline for tariffs will be changing, said, "They're going to be tariffs. The tariffs are going to be the tariffs." In the same way, a tariff is a tariff is a tariff, whether in a racy letter, stated on a big chart, or even sent in an Instagram DM. Steep tariffs on 14 countries. The White House sent letters to leaders of several countries announcing blanket tariffs ranging from 25% to 40% starting Aug. 1. Notably, U.S. imports from Japan and South Korea face a 25% duty. U.S. markets fall on stiff tariffs. All major U.S. indexes ended in the red in their worst day in almost a month. The Stoxx Europe 600 rose 0.44%. Oil and gas stocks fell after the OPEC+ alliance on Saturday agreed to a bigger-than-expected production increase. Tesla loses more than $68 billion in value. Shares of the electric vehicle maker tumbled 6.8% after Tesla CEO Elon Musk said Saturday he was forming a new U.S. political party. Investors are worried about Musk heading deeper into politics. Samsung Electronics forecasts a 56% fall in profits. Second-quarter operating profit is expected to come in around 4.6 trillion Korean won ($3.3 billion), a steep decline from 10.44 trillion won a year ago. The firm's estimate is even lower than analyst expectations. [PRO] Safe spots in the Chinese market. While the China technology story hasn't changed enough to warrant major changes to portfolios, analysts are encouraging investors to be more conservative as they gear up for the second half. This Chinese jeweler is using traditional techniques to challenge Cartier — and it's starting in Singapore Laopu Gold opened its first overseas store in Singapore on June 21, just outside the Marina Bay Sands casino. During the first two weekends, wait times stretched from one to two hours, according to an employee. The Chinese jeweler has excited investors with its surging China sales — up 166% to 9.8 billion yuan ($1.37 billion) in 2024, according to its annual report. The company's shares have skyrocketed by well over 2,000% since its public offering price of HK$40.50 in Hong Kong in June 2024.
Time Business News
5 hours ago
- Time Business News
How to Buy iTunes Gift Cards in Bangladesh (Easy Guide)
In today's world, iTunes gift cards are not just gifts. They let you buy apps, music, games, and movies. You can also pay for iCloud or Discord Nitro. You don't need a credit card! But in Bangladesh, buying these cards can be hard. Some sellers are fake. Some give wrong codes. This guide will help you buy safely. An iTunes card is a card with money on it. You can use it to: Buy apps and games Pay for Apple Music or Apple TV+ Get more iCloud storage Buy things in games like PUBG or Free Fire You put the code in your Apple ID. Then the money is ready to use. Many people in Bangladesh face these problems: No Apple Stores in the country Shops don't sell the cards Some codes online are fake Facebook sellers cheat Some codes don't work at all So, it is best to buy from safe websites. This is a good website in Bangladesh. It sends codes fast by email. You can pay with: Why it's good: We say: Very safe and trusted! This is a global site. But it is hard for many people in Bangladesh. Why: You need a dollar card (Visa or MasterCard) bKash and Nagad don't work here Some find the site hard to use Use this only if you have an international card. Sometimes Daraz sells iTunes cards. Good sides: bKash works The site is trusted Bad sides: Cards may be out of stock It may take 1–3 days to get the card Many sellers on Facebook say they sell cheap cards. But most are fake. They may say: 'Send bKash first, I'll send the code.' 'Trust me, I have good reviews.' Don't trust them. You can lose your money. Method Safe to Use Works Best With bKash ✅ Yes AroraShop, Daraz Nagad ✅ Yes AroraShop Rocket ✅ Yes Some sellers Visa/MasterCard ❌ Hard OffGamers Buy only from trusted websites Don't send bKash to a stranger Keep screenshots of payments Read real reviews first If it seems too cheap, it's fake After you get your 16-digit code: Open App Store Tap your picture (top right) Tap 'Redeem Gift Card' Type the code Open iTunes or Apple Music Click Account > Redeem Log in Enter your code Note: Use a US card only with a US Apple ID. Q: Can I buy Discord Nitro with the card? Yes! If you use Discord on iPhone, it works. Q: What if the code does not work? If you bought it from AroraShop, they will help you. But Facebook sellers will not. Q: What if I buy the wrong region card? It will not work. Always check your Apple ID country first. You can buy iTunes cards in Bangladesh. Just use safe websites. The best one is: AroraShop They are fast. They are safe. They take bKash and Nagad. Many people trust them. Stay safe. Don't trust Facebook sellers. Always check before you buy. Enjoy your gift card and have fun! TIME BUSINESS NEWS
