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Ford CEO Warns Layoffs If EV Subsidies Cut

2/12/2025

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Summary

Story summary

Ford CEO Jim Farley cautioned that layoffs may occur if electric vehicle subsidies are eliminated.
The company has committed to building battery and EV factories in Ohio, Michigan, Kentucky, and Tennessee.
Farley opposed Trump's proposed tariffs on vehicles from Mexico and Canada, warning of significant damage to the U.S. auto industry.
He emphasized that these tariffs would favor foreign companies, disadvantaging U.S. manufacturers.

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Story summary

Ford CEO Jim Farley cautioned that layoffs may occur if electric vehicle subsidies are eliminated.
The company has committed to building battery and EV factories in Ohio, Michigan, Kentucky, and Tennessee.
Farley opposed Trump's proposed tariffs on vehicles from Mexico and Canada, warning of significant damage to the U.S. auto industry.
He emphasized that these tariffs would favor foreign companies, disadvantaging U.S. manufacturers.