Ford Confident in EV Strategy Despite Potential Policy Revisions

Credit: Ford

Ford Motor’s Executive Chair, Bill Ford, expressed optimism about the incoming administration of President Donald Trump, emphasizing its potential to bolster the U.S. automotive sector. In a conversation with reporters, Ford highlighted Trump’s apparent focus on supporting domestic auto workers and industry growth.

“This time he [Trump] understands the importance of our industry,” Bill Ford said, reflecting on his discussions with the president-elect earlier this month. The chair noted that while Trump’s first term required “education” on automotive issues, the former president is now well-informed and eager to engage with the sector.

Trump’s plans to eliminate the $7,500 federal EV tax credit have raised concerns across the electric vehicle (EV) market. However, Bill Ford remained confident, stating, “I feel very confident going forward that Ford will have a voice and a seat at the table.”

Ford downplayed apprehensions about Tesla CEO Elon Musk’s close relationship with Trump, pointing out shared interests in advancing the auto industry. “He and Musk are aligned on a lot of issues,” Ford said, echoing sentiments from Hyundai Motor Co. CEO Jose Munoz, who recently described Musk’s proximity to the administration as a potential “positive for the industry.”

The automaker has also reported profitability in China, a challenging market for many Western brands. CEO Jim Farley disclosed that Ford earned approximately $600 million in the country last year, bucking the trend of declining performance by non-Chinese manufacturers. “I’m happy to say that Ford makes money in China, and I’m very proud of that, because not many [automakers] can say that,” Farley remarked during the Detroit Auto Show.

As Trump prepares to take office, Ford Motor aims to leverage its strong position and maintain a constructive dialogue with the administration to navigate potential policy shifts, particularly those affecting electric vehicles and emissions regulations.

Source: Bloomberg

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