Ford CEO Jim Farley informed employees Thursday that the company is preparing for the entry of Chinese automakers into the U.S. market within the next five to ten years, despite existing trade restrictions. He stated that Ford is developing a new generation of affordable EVs to compete on cost and efficiency with Chinese rivals, according to Reuters.

 

Farley mentioned that Chinese automakers are more likely to enter the U.S. market toward the latter part of that five- to ten-year window. Although the automaker declined to comment on this private town hall meeting, it mentioned the timeline is more specific than previous public statements from Ford’s leadership.