Ford CEO: Chinese companies are ahead of large American car companies and start-ups in electric vehicles, battery chemistry and other technologies

FAP, May 26 / PRNewswire-FirstCall-Asianet /-- Ford CEO Jim Farley said Thursday at the Morgan Stanley Sustainable Finance Summit that Ford's biggest competitor in electric vehicles is neither Tesla nor General Motors, but Chinese automakers. Mr Farley said Chinese companies such as BYD, which Mr Buffett backed, were ahead of big US carmakers and start-ups in electric vehicles, particularly battery chemistry and other emerging technologies. (CNBC)