Ford CEO Warns US on Chinese Automakers, Says 'It's Too Late' for Europe

Ford CEO Jim Farley said the U.S. must "be extremely careful around how the Chinese OEMs come to our country," noting Chinese imports quickly captured European market share and that "it's too late" for Europe. The comments came as new U.S. fuel economy rules are set to cut GM's technology costs by $20.4 billion through 2031.

• Farley: U.S. must "be extremely careful" about Chinese OEMs
• He says it's "too late" for Europe after rapid import gains
• U.S. DOT: GM to save $20.4 billion on tech through 2031
• New fuel economy rules lower automakers' costs