Ford has signed a Memorandum of Understanding (MoU) with Anhui Zotye Automobile, a major manufacturer of electric vehicles in China.
The proposed 50:50 joint venture’s ultimate goal is to produce new zero-emission cars, which will be sold to customers in the People’s Republic under an indigenous brand, and besides development and manufacturing, they will also focus on marketing and servicing.
“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. “Electric vehicles will be a big part of the future in China and Ford wants to lead in delivering great solutions to customers.”
This new partnership allows Ford to come closer to their plant that sees the introduction of 13 new electrified vehicles globally, over the next 5 years, including a zero-emission small SUV that will be sold in Asia, North America, and Europe.
Details surrounding the products and production volume, as well as information about the indigenous brand, which is owned by the new joint venture, will be announced at a later date, according to the Michigan-based automaker.