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Ford signs MOU in China with Zotye Auto
Ford Motor Company has signed a Memorandum of Understanding with Anhui Zotye Automobile Co., Ltd., a major manufacturer of zero-emission all-electric vehicles in China.
The goal of the MoU is to explore the establishment of a joint venture for the development, production, marketing and servicing of a new line of all-electric passenger vehicles in China. Additional details, including information about the brand, products and production volumes, pend a final definitive agreement and regulatory approvals. “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.” “The MoU between Zotye Auto and Ford opens the door for us to explore our cooperation in the development of clean energy vehicles,” said Jin ZheYong, chairman and president, Anhui Zotye Automobile Co., Ltd., based in Huangshan, Anhui province “This presents us with an exciting opportunity to leverage each other’s strengths in achieving a win-win situation for both parties’ growth in the fast-evolving Chinese electric vehicle market.”
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