Ford CEO stated that they will benchmark against BYD in the field of electric vehicles, instead of Tesla.

In last week's podcast, Ford CEO Jim Farley explained why he chose to drive the Xiaomi SU7 instead of a car produced by American companies like Tesla. "I'm not against Tesla. They have always done well, but you know, they really haven't updated their models," he said. Farley believes that if Ford wants to be the best globally, it must focus on foreign competitors. He referred to BYD as the "best in the industry" in terms of cost, supply chain, manufacturing, and intellectual property, and hopes that Ford can emulate BYD and leverage the strengths of Americans: "competing with innovation with the world's top companies." Farley stated that Ford should learn from BYD's practices and create cars that can meet the demands of the "next stage" of American car buyers. "If we are smart enough, we should take advantage of BYD's cost advantage and then compete using BYD's platform in the segmented market where we understand customer needs very well," he said.