Ford Motor could be forced to fire employees if the Trump administration ends the subsidies and other financial support for the manufacture of electric vehicles, the company's executive director said Tuesday.
Ford has invested a lot in factories to produce batteries and electric vehicles in Ohio, Michigan, Kentucky and Tennessee, Jim Farley, Ford executive director, at a conference in New York. If the Republicans repeal the legislation of the Biden era that assigned billions of dollars in subsidies and loans for the projects, Mr. Farley said: “Many of those works will be at risk.”
Farley also criticized the threat of President Trump to impose tariffs on cars and components of Mexico and Canada. Ford manufactures several vehicles in Mexico, including the Maverick truck and the Mustang Mach-E electric SUV, and the engines in Canada.
“A 25 percent tariff throughout Mexico and the Canadian border will blow a hole in the United States industry that we have never seen,” said Farley, according to a transcription of his comments provided by Ford. “It releases the South Korean and Japanese and European companies that are bringing one and a half to two million vehicles to the US.
Mr. Farley's comments at the conference, which was organized by Wolfe Research, offered a rare example of a corporate executive that doubts Mr. Trump's policies or statements. In most cases, executives have offered praise or remain silent, apparently because of fear that they can cause reprisals from the president.
Although he disagreed with specific policies, Farley praised how Trump “has spoken a lot about making our automotive industry in the United States stronger, bringing more production or innovation in the United States” this is especially important now, The Executive said, the executive. Because a “global street fight” in the automotive industry is being carried out as Chinese manufacturers expand abroad.
“If this administration can achieve that, it would be one of the most characteristic achievements,” Farley said.
But he added: “Until now, what we are seeing are many costs and many chaos.”
Mr. Farley's comments also highlighted a political dilemma that Republicans will face while trying to reverse democratic policies designed to promote electric vehicles. Much of the investment in factories has gone to the states and districts of the Congress represented by Republicans whose components would be those who would lose their jobs.
(Tagstotranslate) Ford Motor co