BIRMINGHAM, Mich., April 17 (Reuters) - The U.S. auto
industry needs regulatory certainty from politicians in
Washington and the back and forth as the White House changes
hands doesn't help, but the adoption rate of electric vehicles
will continue to grow, Ford Motor's ( F ) executive chairman
Bill Ford said on Wednesday.
The growth rate on EV sales has slowed, but globally they
are being adopted quickly and Ford will follow even as it hedges
it bets with its gasoline-powered and hybrid electric vehicles,
he said at a Detroit Free Press event outside Detroit.
While not commenting on the race between U.S. President Joe
Biden, a Democrat, and former president Donald Trump, a
Republican, Bill Ford said he wishes the country would pick a
path so the industry can plan better.
"Our planning timeframe is a lot longer than election
cycles," he said.
"We can do almost anything as a company, and frankly as an
industry, as long as we have some certainty towards where we're
headed," Bill Ford added. "The problem is when we're whipsawed
back and forth by politicians. We can't turn on a dime. Just
pick a path and we'll go for it."
Michigan is a key battleground state in the election this
fall and both Biden and Trump have been speaking to voters,
including many industry workers, about the challenges the U.S.
auto sector faces. Trump has charged that Biden's policies will
kill auto jobs and aid China's surging EV industry.
Bill Ford said when he talks with politicians in Washington,
he gets very different viewpoints from the two parties.
He said Republicans question the need for EVs, saying the
U.S. sector trails China and they don't want to use Chinese
technology. Meanwhile, Democrats are pushing the industry to
make more EVs and asking what they can do to accelerate the
process.
The Biden administration last month handed Detroit
automakers a major win by easing proposed rules that would have
forced them to scale back production of gas-guzzling vehicles or
face billions of dollars in fines.
Bill Ford said the transition to EVs will be gradual and
determined by consumers. "We're not shoving anything down
anybody's throat," he said.
Ford Motor ( F ) on Tuesday resumed shipments of its F-150
Lightning electric pickup after an undisclosed quality issue led
to a nine-week halt starting in February.
Earlier this month, Ford cut prices of some Lightning
variants by as much as $5,500, and it previously cut prices on
its Mustang Mach-E electric SUV by up to $8,100 after sales
fell.
Also this month, Ford delayed the planned launches of
three-row EVs in Canada and next-generation electric pickup
truck built planned for production in Tennessee.
Ford CEO Jim Farley has said the U.S. automaker was
committed to scaling up its EV business profitably. It lost
nearly $4.7 billion on its EV business in 2023 and projected it
will lose $5 billion to $5.5 billion this year.