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Ford CEO Says He's Been Driving a Xiaomi EV for the Past 6 Months

Ford CEO Jim Farley previously told a board member that China's auto industry was an "existential threat" after visiting the country in May.

A spokesperson for Xiaomi told BI's Matthew Loh in August that the company was looking to lower its production costs by increasing the scale of itsEV arm. In early 2023, Farley and his chief financial officer, John Lawler, were in China when they tested out an electric SUV made by thestate-owned automaker Changan Automobile, the Journal reported. Data compiled by the technology firm ABI Research for Business Insider shows Chinese automakers accounted for 88% of the EV market in Brazil and 70% in Thailand in the first quarter of this year.

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