Ford Motor Co. CEO Jim Farley on Wednesday said that he expects to see industry consolidation happen at nearly every level in the coming years and that Chinese companies could be among the big winners.
Speaking at the Bernstein Strategic Decisions Conference, Farley predicted that dealership groups, suppliers, electric vehicle startups and traditional automakers could merge, fall out of the market or form new joint ventures as the transition to EVs changes the industry.
"No doubt about it, we're going to see very large consolidation," Farley said. "Big changes."