Published

Ford, Zotye Finalize JV to Build EVs in China

Ford Motor Co. and Anhui Zotye Automobile Co. have formed a 50:50 joint venture that will build and sell small electric vehicles in China.
#hybrid

Share

Ford Motor Co. and Anhui Zotye Automobile Co. have formed a 50:50 joint venture that will build and sell small electric vehicles in China.

The partners are investing a combined 5 billion yuan ($756 million) in the venture, which will be called Zotye Ford Automobile Co. The companies signed a preliminary development agreement in August.

The investment will go toward building a manufacturing plant in China’s Zhejiang province. Zotye Ford also plans to open a research and development center and establish a network of sales and services centers. The vehicles will be sold under a new unspecified brand.

Ford and Zotye say they also are exploring offering mobility services in China. In addition to Zotye, Ford has joint ventures in China with Chongqing Changan Automobile Co. and Jiangling Motors Corp.

Ford expects sales of so-called “new energy vehicles” in China will grow to six million units per year by 2025, of which about 4 million vehicles are forecast to be all-electric models.

By that time Ford anticipates 70% of its vehicle lineup in China will be electrified, starting with a plug-in hybrid version of its Mondeo sedan next year and an all-electric small SUV early next decade. Those vehicles will be produced in collaboration with Chongqing Automobile.

RELATED CONTENT

  • 2018 Chevrolet Bolt EV Premier

    There are two ways to consider the Chevy Bolt. One is the car. The other is the environment it exists in.

  • What the VW ID. BUGGY Indicates

    Volkswagen will be presenting a concept, the ID. BUGGY, a contemporary take on a dune buggy, based on the MEB electric platform that the company will be using for a wide array of production vehicles, at the International Geneva Motor Show.

  • Internal Combustion Engines’ Continued Domination (?)

    According to a new research study by Deutsche Bank, “PCOT III: Revisiting the Outlook for Powertrain Technology” (that’s “Pricing the Car of Tomorrow”), to twist a phrase from Mark Twain, it seems that the reports of the internal combustion engine’s eminent death are greatly exaggerated.

Gardner Business Media - Strategic Business Solutions