Ford CEO reveals update about the future of its cars: 'We've been working in silence for three years'

Kate Cagle from the Business Innovators Unplugged podcast interviewed Ford CEO Jim Farley about electric vehicles. 

The session revealed fascinating plans from the American auto giant. Farley said that despite some setbacks — a $5 billion loss in the EV division among them — the company hasn't been sitting idle, detailing a "Skunk Works"-type of development plan. 

Skunk Works is Lockheed Martin's secretive innovation program for aerospace engineering that dates to the 1940s. It's known for cutting-edge technology. 

"We've been working in silence for three years to really challenge the established players and even ourselves," Farley said in the interview. A summary of it was published by the Los Angeles Times, which produces the podcast.

Improved American-made EVs would be a big win for consumers, as the cleaner, quieter rides already save motorists up to $1,500 a year in gas and service costs. 

Farley's special team has been working in Irvine, California, to develop EVs that can compete with industry juggernauts Tesla and China's BYD. Chinese EV dominance was made clear to Farley after bringing a $30,000 Xiaomi stateside. It had amazing performance, facial recognition, and other high-tech features. 

 "It was one of the most humble moments when you realize ... the Earth is shifting competitively under your shoes," Farley said. 

The Times reported that almost 60% of China's domestic vehicle market is electric. The country makes 60% of all EVs worldwide, and its influence is expanding. Chinese brands manufacture 25% of all cars sold in Mexico, for example. In the meantime, Canada is forging deals to bring them to North America, too. 

Stateside, Farley and President Donald Trump have signaled openness to working with Chinese brands as well, though the partnerships would have to include production sites in the United States and be part of joint ventures with U.S. companies having controlling stakes, according to multiple reports.

If such a deal is ever made, it would have to clear industry and political pushback and buck decades of U.S. trade policy designed to protect the American auto sector from cheaper imports. 

Which of these savings plans for rooftop solar panels would be most appealing for you? Save $1,000 this year 💸 Save less this year but $20k in 10 years 💰 Save less in 10 years but $80k in 20 years 🤑 Couldn't pay me to go solar 😒 Click your choice to see results and earn rewards to spend on home upgrades.

Analysts at Benchmark reported that global EV sales grew by 20% in 2025, reaching 20.7 million vehicles, most of them in China. In the U.S., Cox Automotive's analysis showed that 2025 sales were strong, at nearly 1.3 million, the second-best year on record. But the numbers have been flagging since federal policy changes killed tax incentives early. However, certain states still offer perks. 

Motorists who make the switch can save hundreds of dollars a year by charging at home. Experts at Qmerit can help you upgrade to a Level 2 charger, providing a full battery in hours without the fees levied at public stalls. Qmerit curates free installation quotes, so you know you are getting the best price. 

Powering up with solar panels is even cheaper, bypassing surging grid rates. TCD's solar partner EnergySage connects customers with vetted installers, providing free, competitive bids. The insight that can save you up to $10,000 on upfront costs. 

Farley thinks vehicles will increasingly become places where people relax, check emails, and decompress as highway autonomy expands. He noted that drivers often spend 20% of their time in stationary cars. 

Among industry challenges are a blue-collar worker shortage and the need for expanded EV charging infrastructure, according to the CEO. Hybrids, including the F-150 model, provide extended range and can even power homes during blackouts, filling the gap until the network is better. 

In the meantime, his "Skunk Works" team is working on "a radically redesigned approach" to provide the next generation of EVs, Farley said.

Get TCD's free newsletters for easy tips to save more, waste less, and make smarter choices — and earn up to $5,000 toward clean upgrades in TCD's exclusive Rewards Club.