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Ford Targets 50% Revenue Growth in China by 2025
Ford Motor Co. unveiled a plan earlier today in Shanghai to roll out 50 new models in China by 2025—eight of them SUV/crossovers and at least 15 of them electrified.
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Ford Motor Co. unveiled a plan earlier today in Shanghai to roll out 50 new models in China by 2025—eight of them SUV/crossovers and at least 15 of them electrified.
The plan was outlined to employees, dealers, officials and reporters by Ford Chairman Bill Ford Jr., CEO Jim Hackett, Ford China Chairman Jason Luo and Peter Fleet, who heads the carmaker’s Asia Pacific operations.
The product blitz will support Ford’s goal of hiking its China revenue 50% by 2025 compared with this year. Ford says the effort will be buttressed by a push for universal vehicle connectivity, a streamlined and more cost-effective business structure, and five locally produced models developed specifically for the local market.
All Ford and Lincoln brand models sold in China by the end of next year will use built-in modems or plug-in devices to provide in-car connectivity, according to the company.
Ford says it also is forming a single distribution services division that will be responsible for marketing, sales and service for all Ford-brand vehicles the company sells in China through its Changan and Jiangling joint-venture partners. The Lincoln luxury marque will remain a stand-alone brand with its own dealer network.
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