Ford Motor can be forced to dismiss employees if the Trump administration puts an end to subsidies from subsidies and other financial support for the production of electric vehicles, the CEO of the company said Tuesday.
Ford has invested heavily in factories to produce batteries and electric vehicles in Ohio, Michigan, Kentucky and Tennessee, Jim Farley, the Ford Chief Executive, said at a conference in New York. If the Republicans withdraw the legislation from the Biden era that has assigned billions of dollars to subsidies and loans for the projects, Mr. Farley said: “Many of those jobs are at risk.”
Mr Farley was also sharp critical about President Trump's threat to impose rates on cars and components from Mexico and Canada. Ford makes various vehicles in Mexico, including the Maverick Pick-up and Mustang Mach-E Electric SUV and engines in Canada.
“A rate of 25 percent in the Mexico and the Canadian border will blow a hole in the American industry that we have never seen before,” said Mr Farley, according to a transcript of his comments from Ford. “It gives the free magic strength to South Korean and Japanese and European companies that bring one and a half to two million vehicles to the US that would not be subject to those Mexican and Canadian rates.”
Mr Farley's comments at the conference, which was organized by Wolfe Research, offered a rare example of a manager who questioned Mr Trump's policy or statements. In most cases, managers offered praise or kept it still, apparently for fear that they could cause reprisals from the president.
Even when he has affected the specific policy, Mr Farley praised how Mr. Trump “has spoken a lot about making our American car stronger stronger, making this more production or innovation in the US here,” this is especially important, said The executive, said the executive, because a “worldwide street fight” takes place in the car industry as Chinese manufacturers expand abroad.
“If this administration could achieve that, it would be one of them, I think one of the most characteristic achievements,” said Mr Farley.
But he added: “Until now we see a lot of costs and a lot of chaos.”
Mr. Farley's comments also emphasized a political dilemma with which Republicans are confronted if they try to reverse the democratic policy that is designed to promote electric vehicles. Many of the investments in factories went to states and congress districts represented by Republicans whose voters would be the ones who lose their jobs.
