Ford teams up with China’s Zotye Auto to build electric cars

By : |August 23, 2017 0

Ford has announced that it will set up a joint venture with China’s Anhui Zotye Auto to produce affordable electric vehicles for the Chinese market. In addition to the electric vehicles, the joint venture will also create service infrastructure and marketing of electric vehicles.

Anhui Zotye Auto was one of the first Chinese automakers to produce an all-electric vehicle for its home market. The agreement with Zotye will be a 50-50 joint venture and will be Ford’s third in China after Changan Ford and Jiangling Motor Corp. for passenger and commercial vehicles, respectively. Jin ZheYong, chairman, and president, Anhui Zotye Automobile Co.Ltd, said that the joint venture will enable both companies to leverage each other’s strengths and described the partnership as a win-win situation for both companies to grow in China’s quickly growing EV market.

Peter Fleet, Ford group vice president and president for the Asia Pacific region, says that this will be “an exciting next step” for Ford in China since EVs will be a big part of the Chinese market. The automaker expects the alternative energy vehicle market in China to grow to six million units by 2025 with four million of them being electric vehicles.

Details and vehicle specifications will be announced at a later date. EV’s sold under the partnership will be distinctly badged under the joint venture.

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