Ford Motor Executive Chairman Bill Ford said on Sunday that the United States is not yet ready to compete with China in the production of electric vehicles.
"They've grown very fast, and they've produced it in a mass fashion, and now they're exporting," Ford said on CNN's "Fareed Zakaria GPS." "They're not here yet, but we think sooner or later they will come here and we need to be prepared and we are preparing."
Ford's comments come as the U.S. government is trying to boost the domestic production of electric vehicles. In February, the Biden administration announced a plan to invest $174 billion in electric vehicles and charging infrastructure over the next eight years.
However, Ford said that the U.S. still has a long way to go to catch up to China in the electric vehicle market.
"China has been very aggressive in this space," Ford said. "They've invested heavily in the technology, and they've built up a lot of scale."
Ford said that the U.S. needs to do more to support the development of the domestic electric vehicle industry.
"We need to make sure that we have the right incentives in place," Ford said. "We need to make sure that we have the right infrastructure in place. And we need to make sure that we have the right talent in place."
Ford's comments are a reminder of the challenges that the U.S. faces in competing with China in the electric vehicle market. However, Ford said that he is confident that the U.S. can eventually catch up.
"I think we have the potential to be a global leader in this space," Ford said. "But we need to get serious about it."
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