In terms of the risks is that at the time, that technology was very expensive. But we knew that we could increase the scale and improve the costs of it, and get the real benefit worldwide. Now, within a few years, all of our vehicles will have this EcoBoost technology.
Q: There have been reports that younger people may not want to buy cars as much as Baby Boomers have. How is Ford targeting Millennials?
A: I just saw a student in the new Fiesta, and, my gosh, they're just the neatest vehicles. But it used to be, in
Q: In your time as CEO,
A: The most important thing that we can do and we're doing is to create an exciting, profitably growing Ford. We are competing with the best companies in the world right here in
Q: How will Ford compete internationally where companies in other countries can offer vehicles at lower prices?
A: We believe that we can serve maybe three-fourths, 80% of the market, but we are not making vehicles at the very small, lowest end. It's just not our competency. There's a tremendous market all around the world for vehicles around the Fiesta size, a B (subcompact) size. So we compete on the B size all the way up through the larger vehicles.
When you look at automobiles worldwide, about 30% of all the vehicles sold over the next few years are going to be in the
Ford is going to focus on the Fiesta size and the larger vehicles. The Chinese love the smaller SUVs, just like the rest of the world. It's probably the fastest-growing segment around the world. I think we're really well-positioned. We're increasing our production as fast as we can.
Q: What else is in the future for Ford and the auto industry?
A: We're going to see a lot of improvement in internal combustion, whether it's diesel or (gasoline), and new materials, integrated electronics, the aerodynamic improvements, system integration, so a lot of improvements. I think we're going to see more biomass fuels. I think we're going to see more natural-gas vehicles -- we're going to have one out there -- but I also think we're going to see more electrified vehicles and more hybrids, then all of the electric vehicles that have a much larger battery.
You can imagine a world where you have a hydrogen tank and you mix the hydrogen with platinum, and water comes out of the tailpipe, electricity goes to the new high-efficiency battery, and now we're actually using our energy in a clean way. As we develop our energy policies in
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