The head of the American company Ford Jim Farley believes that the rapid development of the production of electric cars in China threatens the USA with a serious lead in the fight for foreign markets, reports the newspaper The Wall Street Journal.
„This is an existential threat”, the publication quoted Farley as saying.
Chinese automakers are noted to be “developing at the speed of light” as they use artificial intelligence and other new technologies that have no analogues in the US.
For decades, Ford and other global automakers did not see China as a serious threat, the newspaper recalled. However, "methodical investment" and "generous government subsidies" allowed Chinese companies to take a big step forward. Today, Chinese electric cars are gaining popularity in Europe, the Middle East and Asia thanks to lower prices and built-in high-tech features.