"Clearly, our strategic advantages are not falling to the bottom line the way they should," Ford's CEO Jim Farley said in an earnings call on Monday. "Costs, especially warranty, has held back our earnings power."
Farley also emphasized Ford's strategy to compete with Chinese EV makers. He said finding new designs for components or using new suppliers will be key to reducing EV costs.
Companies like the Chinese brand BYD, Farley said, "have an incredible advantage on affordability of batteries." So, we have to make that up, or our opportunity is on the EV component side, inverters, gearboxes, motors.
Chinese EV makers have been on a roll this year. Despite concerns about tariffs, sales for companies like BYD, Nio, and Zeekr were boosted by price cuts, the introduction of cheaper models, and Chinese EV demand from Russia.
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