Ford Chief Executive Officer Jim Farley warned that China’s surging electric-vehicle industry poses an "existential" challenge to legacy carmakers, telling the Aspen Ideas Festival that roughly 70% of the world’s EVs are now built in China. He said the cost, quality and technology of Chinese models—citing BYD and Xiaomi in particular—outstrip what he sees in the West, adding that a recent six-month test drive of Xiaomi’s SU7 sedan underscored the gap. Farley argued that Chinese manufacturers benefit from integrated digital ecosystems and in-house battery supply chains that allow them to offer high-spec vehicles at prices far below U.S. averages. Unless U.S. automakers close that gap, he cautioned, Ford’s future is at risk. Separately, Farley contrasted autonomous-driving strategies, saying Waymo’s lidar-based approach "makes more sense" than Tesla’s camera-only system, a remark that highlights strategic choices Ford faces as it balances investment between battery-electric, hybrid and self-driving technologies.