Ford Motor to create a joint venture in China to start electric vehicles production

Almaty. August 23. Silkroadnews – Ford Motor wants to create a joint venture in China to produce electric vehicles, Russian newspaper Vedomosti reported.
Ford Motor reported on a memorandum of understanding signed with China’s Anhui Zotye Automobile to establish a joint venture on a parity basis. Zotye Auto is the largest manufacturer of electric vehicles in China. The joint venture will develop, produce, sell and service a new line of electric vehicles in China to be sold under a local brand, Ford says, the report reads.
It is noted that the project is consistent with the U.S. company’s views on the most environmentally-friendly car production and its views on contribution to the overall efforts to combat air pollution and climate change.
According to the publication, China is the fastest growing market for alternative engines vehicles. The forecasts say the market is expected to grow up to 6 million units per year by 2025, of which around 4 million cars will be fully electric.
As reported, at the moment Ford has invested $4.5 billion into electric cars production. In the next five years the automaker is going to brand 13 new models of electric vehicles, including one small SUV for the markets of Asia, North America and Europe.