World


China Hits Gas in Race for Global Domination of EVs


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Ford’s CEO is astonished by Beijing’s cutting- edge car that’s half the price of U.S. models. BY MATTHEW LYSIAK


n detroit, a city renowned for its pride in the auto industry, Ford CEO Jim Farley made a surprising choice last year.


For six months, he drove a vehicle


not made by his own company — the Xiaomi SU7, a Chinese electric sedan. Priced at approximately $30,000 in


its home market, the SU7 offers accel- eration that rivals some Porsche mod-


els, features a large touchscreen that also controls lighting in your house, and includes an AI assistant — much of which is powered by tech compa- nies like Huawei — which has been linked to Chinese Communists. Still, Farley couldn’t help but rave


about his competitor. “It’s fantastic,” he enthused on a


podcast last fall. “I don’t want to give it up.”


However, Farley’s admiration car-


ried a note of concern. He warned that if Chinese EVs like the Xiaomi flood the U.S. market, they could upend the domestic auto industry. Ford was able to import a Xiaomi from Shanghai for testing purposes,


Subsidies, Low Prices Drive Huge Sales C


hinese electric vehicles can be so cheap and high tech that they risk outcompeting all cars, not just electric ones. That’s because Beijing subsidizes auto manufacturers,


allowing them to sell vehicles at a loss. According to Reuters, government incentives of up to $10,000


per vehicle supported 58% of global EV sales in China, resulting in overcapacity as production outstripped demand by 30%-40% in some segments.


56 NEWSMAX | OCTOBER 2025


but for now Americans cannot buy the SU7 or any of the many affordable and highly advanced EVs made in China. Stiff tariffs and restrictions on Chi-


nese technology have kept them out of the U.S. If things changed, Ford, along with


all other automakers in the U.S., would be in serious danger. In the rest of the world, traditional automakers are already struggling as Chinese cars hit the market. In Europe, Chinese brands now


have roughly as much share of the market as Mercedes-Benz. Auto researcher Stephanie Val-


dez Streaty, director of economic and industry insights for Cox Automotive,


America’s EVs cost an average of $55,000 — roughly double


the price of Chinese cars. In an October 2024 interview, General Motors CEO Mary Barra


told the Fortune Most Powerful Women Summit that the Chinese EV market has become “a race to the bottom with pricing and the level of subsidies.” Barra added that “of the hundred or so (Chinese) companies, less than a handful are profitable.” — M.L.


CAR/TOM SALT|CAR AND DRIVER


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