China, struggling with alarming pollution levels in major cities, is aggressively pushing plug-in vehicles and has poured in tens of billions in investment, research funding and subsidies, drawing many new automakers to launch projects.
Ford, whose overall China sales are down 7 percent this year, said in a statement on Tuesday that it had signed a memorandum of understanding with Zotye Auto to build a new brand under which the Electric vehicles will be sold.
The potential JV with Zotye Auto would represent a deepening of commitment to electric vehicles in China by Ford.
In April, it outlined plans to offer by 2025 hybrid or fully electric versions of all models built in China with its domestic joint venture partner, Chongqing Changan Automobile Co Ltd.
The privately-owned company, which is headquartered in China's coastal Zhejiang province, also makes sport utility vehicles and cargo trucks.
- Ford may develop electric cars with Chinese partnerCBS News
- Ford in talks to launch fully electric cars in ChinaFinancial Times
- Ford Exploring JV With China's Zotye to Build Electric CarsTheStreet.com
- Ford Heads to China For Electric Passenger VehiclesNews18
- Ford signs MoU with China's Zotye Auto for EV JVPaul Tan's Automotive News
- Ford, Chinese partner look at possible electric car ventureABC News
- Ford Motor (F) Announces MOU for All-Electric Vehicle JV with Zotye Auto in ...StreetInsider.com
- Ford Plans Joint Venture to Make Electric Cars in ChinaWall Street Journal (subscription)