Ford (F) reportedly held talks with China’s Geely (GELYF) (GELHY) to extend a potential European joint venture to the U.S., but has walked away as a collaboration would be “politically fraught.”
According to The Wall Street Journal, Ford (F) was in talks to license Geely’s (GELYF) (GELHY) technology in the U.S. as a way to capitalize on more advanced automobile technology while sidestepping a U.S. ban on Chinese tech.
While Geely (GELYF) (GELHY) supports any avenue into the U.S. market, Ford (F) remains outwardly opposed to any threats to the U.S. auto industry.
Ford CEO Jim Farley has warned that while Chinese-made cars are cheaper, better built, and technologically superior, allowing Chinese automakers to sell cars in the U.S. would be “devastating” to the American auto industry.
“Manufacturing is the heart and soul of our country, and for us to lose that to exports would be devastating,” Farley said as recently as this week.
While talks to collaborate in the U.S. have stalled, Ford (F) and Geely (GELYF) (GELHY) continue to discuss possible joint ventures in Europe.
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