Tesla caught a stray from Ford CEO Jim Farley, who signaled the brand has been somewhat stagnant in recent years.
Business Insider shared Farley's comments on the Rapid Response podcast, which clarified his 2024 decision to evaluate the Xiaomi SU7 instead of a Tesla to judge the electric vehicle competition.
"Nothing against Tesla — they've been doing great — but they really don't have an updated vehicle," Farley told host Bob Safian.
While he couched the comment a little bit, it still came across as a shot across the bow. Farley highlighted that brands like BYD from China excel in cost-effectiveness, supply chain efficiency, and manufacturing skills.
For Ford to compete, that means meeting American consumers where they are.
"This next cycle of EV customers in the U.S. that want pickups and utilities and all these different body styles, but they want it at $30,000, not $50,000 like the first inning," Farley declared. "They want it affordably."
Farley is making moves to do so. Despite potentially costing the brand $20 billion, he phased out the F-150 Lightning truck as its base price swelled to $55,000.
The brand is now overhauling its EV platform with a focus on affordability. Farley's other key focus is China, for which he has a mixture of deference and angst.
In comments on Fox and Friends, Farley said allowing Chinese EVs into the American market without tariffs "would be devastating" to the domestic auto industry.
During that appearance, Farley noted that China's structural advantages, such as government support and cheap labor, mean comparing the nation's vehicles to Ford's is not a "fair fight." In Mexico, BYD's surging popularity is a real-life example.
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Save $1,000 this year 💸 The consistent theme is that Farley views China, not Tesla, as the danger. He did share some optimism that Ford can regroup and use some of its own advantages to fight back.
"Now, if we're smart, we'll take the cost competitiveness of BYD and then compete with that platform in parts of the market where we know our customers really well," Farley told the Rapid Response podcast.
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