Ford made a partnership with Zotye, a Chinese automaker, to rise a new generation of electric vehicles. The target market seems ideal considering forty percent of the sold electric vehicles last year were in China.
The collaboration between the two giants have the vision to give ““a range of stylish and affordable electric vehicles for consumers in China.”
The nation is also popular for taking bold steps in making internal combustion engine obsolete; by embracing renewable resources. The country takes a strong stand against climate change; and is now slowly taking transition towards an emission-free country.
Ford + Zotye = Zotye Ford Automobile Company
The ambitious attempt is now even more possible with the new partnership between Chinese automaker Zotye and Ford. The consolidation is operating under the name – Zotye Ford Automobile Company. Further, the companies are bound to build a brand new array of electric vehicles exclusive for Chinese citizens.
The fusion of the two companies aim to work in coalesce, investing a pooled $756 million (RMB 5 billion) in business capital. China has a growing demand for EVs – that will take eventual domination over diesel or gasoline variants.
Ford is one of the many US automakers that are able to see the untapped potential of the Chinese car market. In 2016 alone, a staggering 40 percent of the global EV sales record are from China. The partnership also expects to eliminate massive import duties; considering the making and manufacturing of vehicles will happen right in China, and they also bear the name of the Chinese brand.