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Ford Signs Deal to Jointly Develop EVs in China

Plan calls for new 50/50 joint venture.

by on Aug.23, 2017

Jin Zheyong, left, and Peter Fleet are all smiles after signing a deal to jointly develop, produce, sell and service EVs in China.

Looking to take advantage of the fastest growing market in the world for electric vehicles, Ford Motor Co. inked a development deal with Anhui Zotye Automobile Co. Ltd., a maker of zero-emission all-electric vehicles in China.

The two companies signed a memorandum of understanding “explore the creation of a joint venture” for the development, production, marketing and servicing of battery-electric passenger vehicles in China.

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“The potential to launch a new line of all-electric vehicles in the world’s largest auto market is an exciting next step for Ford in China,” said Peter Fleet, Ford group vice president and president, Ford Asia Pacific, in a statement. (more…)