Ford, China’s Zotye eyeing electric car venture
Move highlights growing interest in world’s largest electric vehicle market
Ford Motor Co and Anhui Zotye Automobile Co announced Tuesday plans to set up a joint venture to develop and manufacture electric cars in China, according to a release on Ford’s website.
“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.”
Ford recently announced an ambitious “China electrification strategy”, setting a target to offer electric versions of 70% of all models sold in China by 2025.