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Ford CEO: CN Clearly Leading Global EV Mkt
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Ford Motor (F.US) CEO Jim Farley said Chinese automakers have taken complete control of the global electric vehicle (EV) market, and their influence outside of China is growing rapidly, leaving their US counterparts with almost no competitive edge.

For Chinese automakers, competition from Tesla (TSLA.US), General Motors (GM.US), or Ford hardly counts as competition at all, Farley stressed. China's dominance in the EV industry comes from strong government backing, which enables impressive innovation at extremely low costs.

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Among hundreds of companies enjoying support from the Chinese government, Farley added that there are not only emerging brands but also established players such as BYD COMPANY-100 (01211.HK), GEELY AUTO (00175.HK), NIO-SW (09866.HK), and XIAOMI-W (01810.HK).
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