Tech
»
1-min read

Ford Heads to China For Electric Passenger Vehicles

Ford now looks to China for its future electric vehicles. The company has signed a MoU with a Chinese automaker to build electric passenger vehicles in the country.

Reuters

Updated:August 22, 2017, 3:01 PM IST
facebookTwittergoogleskypewhatsapp
Ford Heads to China For Electric Passenger Vehicles
The logo of Ford is seen during the 87th International Motor Show at Palexpo in Geneva, Switzerland.(Image: REUTERS)
Loading...
Ford Motor Company said on Tuesday it has signed a memorandum of understanding with Chinese firm Anhui Zotye Automobile Co to explore establishing a joint venture to build electric passenger vehicles in China. It said in an emailed statement that the vehicles produced would be sold under a brand owned by the new joint venture in which both companies would hold a 50-50 stake.

Zotye, which Ford described as the market leader in China's all-electric small vehicle segment, sold more than 16,000 all-electric vehicles this year through July, representing a year-on-year growth of 56 percent, it said. Back in April, Ford had announced its plans to invest Can$500 million (US$376 million) in Canada to create 300 research and engineering jobs amid its drive to connect cars to the internet.

Watch Video: Ford Mustang GT Review



Catch the Biggest Newsmakers and the Biggest Newsbreaks on CNN-News18, your favourite English TV news channel. Keep watching CNN-News18 at just 50 Paise per Month. Contact your cable /DTH operator Now!
*Rental / capacity fee of Rs.130/- as charged by cable / DTH operator may apply. **GST extra.

Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp

Live TV

Loading...
Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results