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Ford Signs on for New EV Venture in China

More makers scrambling to partner up as China ups EV pressure.

by on Nov.08, 2017

Ying Jianren, board director of Zotye Auto, left, and Peter Fleet, president, Ford Asia Pacific, signed the new joint venture agreement.

Even as President Donald Trump landed in Beijing to talk about North Korea and other key issues such as trade, Ford Motor Co. announced it reached agreement with a Chinese partner to build a new line of electric vehicles for the burgeoning Chinese car market.

The new agreement with the Chinese company Zotye established a new venture called Zotye Ford Automobile Co. Ltd., a 50:50 joint venture that will offer affordable all-electric vehicles for consumers in China under a new indigenous brand.

Global Auto News!

China has long pressed western carmakers to establish new brands in China. General Motors created the Baojun brand in 2010 specifically for the Chinese market. Ford, however, has held off until now.  (more…)