“Our strategy going forward in China will change. We're going to go to a much lower investment, leaner, more focused business in China with higher returns.”

In context

“ose aspirations? Jim Farley: Well, thank you. And I guess that's the end of my charity work. But we -- Pro and Blue are profitable everywhere in the world, including China. But I'm glad you asked this question, because we went to China to finalize our strategy as a leadership team. And I guess I would explain -- so our ICE business there is profitable. Lincoln is a success. But you have to look at China through the strategy lens, it's not a huge business for us. And we believe that not only is the biggest EV market in the world, but customers digitally are ahead of the rest of the world, and so it's a really important market for us. And what we really see in our presence there is battery tech, digital experience for the customer and advanced product, both software and hardware integrated. Our strategy going forward in China will change. We're going to go to a much lower investment, leaner, more focused business in China with higher returns. And I'll give you an example. I don't want to lay out the whole strategy here. But since you asked the question, I think our partnership with JMC is a good example. We are going to double down on our commercial business, including EVs in China. We also believe that JMC can be an export hub for affordable EVs and ICE commercial vehicles using the Ford distribution network for our Pro business around the world. We have great Pro dealers in South America, in south Africa, in Australia, Mexico, places that we can export. And now we have a source of a fantastic affordable EVs and commercial ICE products with JMC. That's an example of how we're going to approach China from now on. We're not going to try to serve everyone. It will be a lower investment, leaner, much more focused business in Chin”