‘I think there’s a mutual respect" says Ford (F) CEO Jim Farley when asked about his relationship with Tesla CEO Elon Musk. Speaking with Yahoo Finance Executive Editor Brian Sozzi at the rejuvenated Michigan Central Station, he discussed the current vibe between the two business rivals. ‘Does he text you back?’, asked Sozzi. The answer was yes. He added that Ford ‘knows what a partnerships should be and what’s realistic’. Then big picture? ‘We compete’, says Farley. You can watch the full video here.
The company is balancing short-term stability and long-term EV aspirations amid margin pressures and cyclical market dynamics
Demand for crossover SUVs and pickup trucks has helped U.S. automakers post stronger sales over the past few years as Americans prefer the flexibility offered by those vehicles. Ford's overall sales in May rose to a little over 190,000 from a year ago.