he will report directly to jim farley, the ceo. he's not being brought in just to tinker with things. he's been brought in to put a stamp on what ford is doing when it comes to electric and connected vehicles here's his resume. he was in charge of the apple car program. the apple project titan they've never divulged the end product, but he's been working on that. prior to that, he was at tesla senior vp of engineering he helped develop the model 3. before that, he was at apple for five years he began his career back at ford here he is during a conference call talking about how jim farley convinced him ford is the place to make his mark >> after meeting and talking to jim and other leadership add ford, i became convinced that not only was the history here, but that there was a deep desire to really change and embrace these technologies and sort of build the best of both worlds where the scale and history of ford can be combined with a completely new set of approaches >> take a look at shares of ford and we're showing you a one-year

all right, you're persuading me, jim farley, ford ceo, jim thank you so much for joining us and again, congratulations on your expansion into kentucky and tennessee. we appreciate your time. thank you very much. by the way talking of tennessee, nashville, not just the home of country music anymore. coming up why music city is hitting all the right notes with home buyers, even as prices are rising at record rates. we'll get into that story, they look happy don't they? the "clayman countdown" will be right back with the dow down more than 400 points, but in reality down 1.25% we'll be right back. ♪♪ ♪♪ ♪♪ ashley: the red hot housing market is still posting new records. the case schiller home price index just hit fresh all-time highs in the month of july marking the fourth consecutive month of record price growth, getting expensive to buy a home. year-over-year the index jumped to 19.7 overall in july, up from june's 18.7 rate, and as new buyers flocked to u.s. cities, guess what? nashville is currently tied for the fastest-moving market with houses flying on and off the market and selli

i basically called out jim farley the ceo saying how about executionle skills here.remarkably -- i'm impressed with him, responded immediately by texting me and today i took delivery of a ford 150, all chip sets in it i bought it, no lease. i've been offered -- three people already come buy to offer me more than i paid for it the demand for these vehicles is insane my challenge to all ford executives i've dealt with since july 9th, you deliver me a truck make me a blevr and i'll be a shareholder. one-third position 1.6 of a mandate allowed to go up to 5% my thesis is this. the demand is insat i can't believe for this brand all they have to do is execute .it's back on farley i'll buy more stock if he delivers basically he has to squeeze the supplier do whatever he has to do the product has not had flies on it the brand is still intact. i want the electric truck. everybody wants the electric truck. any got a brand. now execute. go figure it out make it happen and you'll get more shareholders >> you know, they say the rich people drive nice cars really rich people drive

for the job loss for these electric vehicles so this is getting a net gain for the company. >> jim farley is like a politician today. have a good day. i know you are with the governor of tennessee and governor of kentucky this afternoon, a good day with a couple big announcements, thank you, jim, for joining us guys, i will send it back to you in the studio. we talk about these ev commitments. i think times maybe our viewers might look at us and say it's another ev investment. this is huge this is the single largest investment fords a he -- owe fos ever made. >> you said he's like a politician that's why they want to go where the jobs are with this stuff, too phil, thank you. >>> when we come back, we get jim cramer's take on the day ahead. also, we will take a deep dive into treasury yields the ten-year hitting the highest level in months. it's above 1.5%. look at that 1.54% climbing rapidly wl lk about it when "squawk box" comes right back. ♪♪ ♪♪ you founded your kayak company because you love the ocean- not spreadsheets. you need to hire. i need indeed. indeed you do. indeed instant ma

ford ceo jim farley is here, he joins us live from memphis. l this morning what are you guys up to? >> well, we have a big announcement. it's a new ford. it's show not tell time. we're going to hire 11,000 people. we're going to build the biggest plant we've ever built in the history of the company, six square miles to build all electric trucks in tennessee, we have a battery plant on site that will be a carbon neutral manufacturing site. we have two more battery plants in kentucky, all total about 1 million vehicles worth of batteries we'll build in the two locations. steve: that's fantastic. i'm old enough to remember when ford's logo was a light bulb above it that said ford has a better idea. now, obviously, the future is electric vehicles. are you basing this , jim, partially on the fact that your f-150 lightning is selling as fast as you can make them? >> yes. also, because of the mustang mac h e. both are sold out for more than a year, on f-150 we have 150,000 orders already. it's america's best selling vehicle already. we know how to do

it will get better as -- >> where are the -- >> interesting comments coming on the heels of jim farleyn "sqwauk" today talking about maybe not this year, maybe not first half of next year, but the situation getting better as we work our way into the second half of 2022 nadella, fascinating discussion about the types of tools that they're looking to buy or build and this particular moment, guys, on search and what in his view it's going to take to make that business competitive. >> one thing that i look at, when was the last time lots of funding went into search other than good old microsoft where we spend billions of -- >> good, old microsoft that's what i always say. >> we're going to be at it that market has to get competitive. it's like the most ridiculous thing, it's the biggest market in the world is just a complete monopoly >> take a look at the lineup for later on today some big names elon musk, jason of warner media, mark benioff of salesforce the themes of code is mobility, regulation, streaming, cloud, crypto, gaming but it's a listen as to how live events happen, corporate c

david westin sat down with jim farley yesterday, the president and ceo afford, and talked about how theres. how do you distant was yourself -- are so many players. how do you distant was yourself? >> we are sold out with the f-150 lightning, and the next ones are coming in the next few months. we are betting on the good stuff. electrified mustangs, electrified f-series, vans come our really emotional products. we think that is going to be a big win. alix: ev maker lucid motors is going to be delivering its sedan next month. ceo peter rawlinson is here with us now. the big news is you are producing the car. you are already there. you are leapfrogging a lot of these guys. talk to me about the demand you are expecting and what you are noticing. peter: the cars are coming off the line right behind me, and we have just had 13,000 reorders. -- 13,000 preorders. he opens the factory doors for the world to see, for valued first customers, influencers, journalists, analysts, and a whole bunch of people, including our investors, and everyone is blown away with the progress we are making. cars are c

we've talked about jim farley a number of times and if you look at this chart, this down trend from june been broken, i think. they're going to earn 1.90 a share, put a ten multiple on it, you have a $19 stock gm is as well. but your point about a five-story building, i ain't parking my car five stories away think about where we live. nobody has 50 feet to park anything away. it's crazy it's madness i think it should trade higher i think 19 is a target >> i guess you can if you're living on a prairie or something. jeff mills, in the mix of this conversation is the notion that tesla's not the only game in town ford's not rivian, this massive ipo is on the horizon, partly backed by ford as well as amazon there are other ways to play this space >> there are i think that's been the knock against tesla for a little why that this competition was coming and now i think you're starting to see it. so i've been wrong on tesla for a long time, but i do think that's a potential headwind of further price appreciation there. the gm story is a little ridiculous, but i think they have a big opportunity

making a huge investment in the midwest betting millions on electric vehicles phil lebeau spoke with jim farley details now hi, phil >> take a look at this investment we're talking about four brand-new plants two that are going to be in tennessee. one building the electric f series another one for battery self-protection. then two battery cell plants, brand-new, outside of louisville where ford has a couple of plants the whole idea here if they add 11,000 jobs is that these are green sheet facilities they're going to be building these from the ground up they want to cut down on the pollution as well as have these facilities next to the plants where the evs will be built. >> look at the chip situation. we have to insource the batteries. we have to learn how to manufacture them in this country. we can no longer import raw materials from around the world. these materials have to come from north america >> and there will be a recycling component at all of these ev battery plants one last thing, guys, you take a look at share of ford, this is a stock that is up by 40% in the last year. we see first

he will be in charge of advanced vehicle technology at ford this is a key hire and big win for jim farley, as he builds out the team that the not only by further developing electric vehicles, all autonomous vehicles in the future again, doug field, a longtime executive at appearing,'s they were developing automobile plans for the future, never fully div divulged, as well as working in the past at tesla. no d no doubt he will be key to mapping out the future for electric vehicles, and more importantly, autonomy vehicles. >> is this a bigger reflection of ford's strategy into autonomous and into electric vehicles in or equally a reflection of apple losing its key engineer, and there, i guess, aspirations where a car is concerned >> i think it's a bit of both, morgan the bottom line is this. he is among a handful of people you can look to in the auto industry and say, who is a key player, somebody that you definitely want on your team if you are developing not only electric vehicles, but autonomous vehicles. i would say if you looked at the auto industry, and give me five or six people more

. >> jim farley was a panelist -- ceo of ford. a number that stuck out for me is taiwan semi, the largest foundry, only 4% of their product is chips, because you don't make any money nothing has changed. of course, washington, there's been more meetings about having a foundry, but taiwan semi doesn't want to make $2 chips if they can make $20 chips. >> the higher-margin are not tip wale for the automakers. >> did you see the government subsidy, if it goes through this week, for electric cars? >> in the trillion dollar -- >> in the small -- >> in the infrastructure bill - i don't know what they call the larger bill. isn't there a union provision there? included in that that's why tesla, that's why musk has been fighting it. >> tesla full bore in china. >> saying it could be the most critical week in the company's history. >> i don't know if people have been noticing it, but tesla's stock has been climbing. it's an umbrella for a lot of stocks there's one coming public today, being valued at $20 billion. lucent is $21 billion. fiske

ford ceo jim farley called the higher of doug fields from apple a watershed moment for the company.citement in the auto space? >> yes. ford. is getting very strong silicon valley talent who have the same time has this very strong engineering pedigree. before he was obviously the head of apple's car project, he was a top engineer for tesla and he was very important in launching the model three for tesla. for ford, this is a real coup. he will be involved in car connectivity, which alongside electra for case and and autonomous driving, is going to be really important for carmakers to help deliver this recurring revenue that they are all striving for. you are no longer just buying a car once, but you're continually delivering more services to drivers that they are happy to pay for. tom: what are the prospects for apple's car project? >> that's a great question. i don't have a definitive answer. if you look back on the many iterations of apple's project, obviously always very much shrouded in secrecy. at the beginning in 2014, the news was that they were going for developing their own c

. >> jim farley tells me of ford that they are now doing a real test with walmart a terrific partner.y're going to test self-driving systems in the real world. so, it's finally occurring i think it's a very big deal i know this argo project is no longer a business. so, self-driving cars, they're here, they're here >> they are? >> yeah, they're here. >> because we thought they would be here and we thought maybe last year they'd really be here and they're not. >> walmart is a real company i go there and haven't done specials on it i think it'sger to have this kind of -- >> more regulators on this story. >> we need disclosure there. >> on autonomous cars? >> if anyone's driving it. dprrs >> the trucking routes -- >> they're doing a bunch of cities 367 >> drop something off and load on another truck >> yeah, you got that right. yeah argo >> chevron tonight >> chevron yeah mike wirth we're going to talk about the trade off between becoming esg, getting cleaner. that's okay. chuck says analyst day and weber, i mean, are you grilling? are people switching to grills that are plug in because t

jim farley saying them move in part is because of the strong reception to early electric offerings.ve already had about 150,000. some dealnews this morning, mark is reportedly close to buying xlr on in a transaction valuing the biotech at $11 billion. it was first recorded in the journal and would give mark a foothold in respiratory illnesses. other companies by the way like bristol-myers have shown strengths-- interest. its experimental drug that treats hypertension and their smirk and the free market with stock down. they are the buyer in all of this. those are some of the headlines kickback tl. maria: cheryl, thank you. let's take a live look at capitol hill as pentagon top brass are set to appear before senate lawmakers for the first time since the botched u.s. exit from afghanistan and secretary of defense lloyd austin and chairman of the joint chiefs chairman mark millie ended general frank mckenzie will face questions about why americans were left behind. the attack killed 13 u.s. service members. the u.s. drone strike killed 10 innocent civilians by mistake and of course aba