Ford deal discussions underway with Chinese electric carmaker

Ford has announced that it is exploring a joint venture with electric car maker Anhui Zotye Automobile Co.

The car manufacturer has announced the signing of a Memorandum of Understanding with Anhui Zotye Automobile Co., Ltd., a major manufacturer of zero-emission all-electric vehicles in China.

The goal of the MoU is to explore the establishment of a joint venture for the development, production, marketing and servicing of a new line of all-electric passenger vehicles in China.

Vehicles produced would be sold under an indigenous brand owned by the new joint venture and would aim to capture a sizeable share of China’s all-electric passenger vehicle market.

Additional details, including information about the brand, products and production volumes, will be announced at a later date, pending a final definitive agreement and regulatory approvals.

The new 50:50 joint venture would be a major step forward in building on Ford’s electrification initiatives and will significantly expand Ford’s footprint in China, along with the company’s successful joint ventures, Changan Ford and Jiangling Motors Corporation.

Peter Fleet, Ford group vice president and president, Ford Asia Pacific, commented: “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.

“Electric vehicles will be a big part of the future in China and Ford wants to lead in delivering great solutions to customers.”