Great Lakes Wire

Richard Kevin Studley, former CEO of the Michigan Chamber of Commerce, expressed concerns regarding Ford's partnership with Chinese battery manufacturer CATL for its electric vehicle (EV) expansion. Studley highlighted potential issues related to financial sustainability and connections to authoritarian regimes. His statement was made on the social media platform X.

"T is for totalitarian," said Kevin Studley, Former President and CEO. "Ford's Model e EV Division lost nearly $5.1B last year. Ford's next ‘Model T Moment' to fend off Chinese EV giant BYD is to depend on CATL. CATL is a Chinese EV battery maker with direct ties to the brutal & totalitarian Chinese Communist Party."

According to Electrive, Ford's Model E division, responsible for managing electric vehicles and software, reported an operating loss of $5.1 billion in 2024. This represents a significant increase in financial losses compared to 2023. The report also indicated that revenue for Model E decreased by 35% year-over-year to $3.9 billion, with Ford selling approximately 105,000 EV units—a decline of 9%. These figures underscore the financial challenges facing Ford's EV business.

The Wall Street Journal reported that Ford is developing a compact electric pickup truck as part of its next-generation affordable EV strategy. This vehicle is expected to launch in 2027 with a target starting price between $25,000 and $30,000. It is being designed on a new low-cost EV platform. Ford executives describe this initiative as a potential "Model T moment," aiming to produce high-volume, lower-cost electric vehicles to expand market share.

According to CNEVPost, BYD sold 4,272,145 new energy vehicles (NEVs) in 2024—a 41.26% increase over sales levels in 2023. Of this total, 4,250,370 units were passenger NEVs and 21,775 units were commercial NEVs, indicating BYD's strong focus on the passenger market. In December 2024 alone, BYD achieved its highest monthly sales total with 514,809 units sold.

Rich Studley served as President and Chief Executive Officer of the Michigan Chamber of Commerce where he oversaw various programs including legislative and political action initiatives. According to the Mackinac Center, Studley played a significant role in advocating for business interests within Michigan and was an influential figure in discussions surrounding the state's economic development.