A year and a half ago, Ford CEO Jim Farley identified a surprising set of rivals for the American automaker.
Driving the Competition
Speaking at Morgan Stanley’s Sustainable Finance Summit, he noted that Ford’s competition wasn’t primarily General Motors or Toyota, but Chinese electric vehicle (EV) manufacturers.
Farley pointed to BYD, Geely, Great Wall, Changan Motors, and SAIC as emerging leaders in the auto industry, thanks to their dominance in EV production and advanced battery technology.
Now, it seems Farley has found another rising competitor in the field.
In an October 21 interview on The Fully Charged Podcast, Farley revealed that for the past six months, he’s been driving Xiaomi’s SU7 EV, describing himself as “delighted” with the experience.
This is Xiaomi’s first electric car, and it’s been in high demand since its release, with monthly sales reaching 10,000 to 20,000 units, keeping it sold out for six months straight.
Travel to Shanghai Sparked Interest
“It’s fantastic. They’re selling tens of thousands of these a month, and they can’t keep up with demand,” Farley noted, adding that Xiaomi’s strong consumer brand presence is setting it apart from many traditional automakers.
The Ford CEO’s choice to drive a Xiaomi model shows the impact Chinese manufacturers are having on the EV market worldwide.
Farley’s interest in Xiaomi began last April, when he and his team traveled to Shanghai to tour Ford’s facilities in China and get a close look at the country’s burgeoning EV industry.
Before returning to the United States, they decided to bring back a few models, including the Xiaomi SU7.
While Ford hasn’t disclosed the other models they tested, Farley’s praise for Xiaomi is clear. Within a year of launching the SU7, Xiaomi has become a leading brand in China’s EV market, delivering about 70,000 units since sales began.
