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International Business Times

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Ford CEO Sounds Alarm on Impact Of Chinese Automakers On Western Competitors: Already 'Too Late' For Europe

Ford Jim Farley Europe Geely CATL United States

At the Automotive News Congress in Detroit, Ford CEO Jim Farley said the U.S. should be "extremely careful around how the Chinese OEMs come to our country." (Credit: Andy Lyons/Getty Images)

Ford CEO Jim Farley is urging the United States to move cautiously before opening the door to Chinese automakers, warning that Europe offers a glimpse of what could happen if policymakers wait too long to respond to the country's rapidly expanding auto industry.

At the Automotive News Congress in Detroit, Farley said the U.S. should be "extremely careful around how the Chinese OEMs come to our country," as manufacturers expand aggressively overseas and put mounting pressure on established automakers. However, Farley said "it's too late" for European countries.

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