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Market Chatter: Ford CEO Says Chinese Automakers Could Enter US Market Within 5-10 Years

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Ford Motor (F) Chief Executive Jim Farley told employees at a town hall Thursday that the company is preparing for the possibility that Chinese automakers could enter the US market within the next five to ten years, Reuters reported Thursday, citing three people who viewed the meeting.

Farley and other senior leaders said such entry is more likely to occur toward the latter end of that timeframe, Reuters reported.

Ford is developing a lineup of affordable electric vehicles designed to compete on cost and efficiency with Chinese rivals such as BYD, according to the report.

Ford did not immediately respond to a request for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: $14.78, Change: $-0.50, Percent Change: -3.27%

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