Recently Ford announced it will begin developing EV models in China that will increase the number of vehicles offered in the country that have zero emissions. New regulations for the country have created a drive toward a greater number of vehicles being sold in China that are EV models. By the 2019 model year, at least ten percent of sales for a brand much come in the form of zero emissions models which will increase to twelve percent the following year. In order to speed up the development and help drive the number of cars from Ford in China, the company has entered an agreement with one of the largest manufacturers in the country.
In an agreement that will be a new 50:50 joint venture, Ford has signed with Zotye to build a range of stylish and affordable EV models to meet the growing consumer need and desire for electric vehicles in the country. This new agreement will develop and manufacture all EV models and sell them under a new Chinese brand to give the population a new brand to turn to. The team that will be called Zotye Ford Automotive Co. Ltd. also plans to build a new manufacturing plant in Zhejiang.
The Goals of the new Partnership
By teaming with Zotye, Ford will be able to quickly transform and develop EV models in China because of the current structure and development that’s in place. This will allow the team to jump in with both feet and be able to offer a large number of models right away. This will help create a possibility in a couple of different ways to make sure the company will be able to give those that want an EV an excellent choice right away.
The new venture will not only offer more jobs in the Zhejiang area with the new plant, but there will be an opportunity to offer new mobility services in China to help solve some of the problems that are being faced in urban areas right now. The Zoyte Ford name will have its own sales and service network for the vehicles that are offered with the new Chinese name that will be used to brand the models that are created from this joint venture. This new brand name hasn’t been announced yet, but it is expected to point to the aspirations that Chinese consumers have for the EV models they want to drive.
Another way this joint venture will help the Ford team is to aid in the development of the zero-emissions models that are offered for the drive around the country. The goal is to reach close to seventy percent of the Ford-branded vehicles that are sold in China by the year 2025 to make sure they can continue to meet or exceed the regulations of the increasing expected percentage of zero-emissions models that will be sold. There may be a strong influence from this joint venture in the Ford EV models we see in the US in the future as well.
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