09:02 AM EDT, 07/15/2026 (MT Newswires) -- (Updates with Ford's comments throughout)

Ford Motor ( F ) Executive Chairman Bill Ford said Tuesday that the US automotive industry has to prepare for competition from China's carmakers when they eventually enter the market.

"It's astonishing how quickly the Chinese auto companies have just taken Europe by storm. Because they're being subsidized by the Chinese government, and you know the Chinese government decided that their domestic economy was in tough straits, so they were going to export the heck out of things, and they have," Ford said at an event sponsored by Axios.

"We have to go toe to toe with China, we can't expect to keep them out forever, and we have to be able to beat them at their own game. Even though we don't have some of the advantages..," Ford said.

A Senate committee convening today is expected to discuss and vote on a bill that would ban Chinese vehicles and related components from the US market, according to the committee's website.