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在线翻译:
szdaily -> Business
Ford, Zotye team up to build EVs

    2017-August-24  08:53    Shenzhen Daily

FORD Motor is exploring setting up a joint venture with Anhui Zotye Automobile Co. to build electric passenger vehicles in China under a new brand, tapping into a boom for such vehicles in the world’s top auto market.

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.

Tesla, Daimler AG and General Motors are among firms that have already announced plans for making electric vehicles (EVs) in China, which wants electric and plug-in hybrid cars to make up at least a fifth of the country’s auto sales by 2025.

Ford, whose overall China sales are down 7 percent this year, said in a statement 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. Both firms will hold a 50-50 stake in the JV, it said.

It did not provide details of financial commitments nor say by when it will take a firm decision on the JV.

Ford sees China as the fastest growing market in the world for new energy vehicles (NEV) and forecasts that segment to grow to 6 million vehicles per year by 2025, of which approximately 4 million would be all-electric. Deliveries of such vehicles rose 53 percent to 507,000 units in 2016, according to the China Association of Automobile Manufacturers.

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.

However, it also said at the time that it would take a cautious approach to the market due to uncertainty about consumer interest and government policy.

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.

The privately-owned company, which is headquartered in Anhui Province, also makes sport utility vehicles and cargo trucks. On Monday, it reported a near six-fold jump in first-half profits.

Ford said it would release details about the brand, products and production volumes at a later date, pending a final agreement and regulatory approvals.

Ford has said it plans for 70 percent of all of its vehicles sold in China to have electrified powertrain options by 2025. The automaker currently has joint ventures in the country with Chongqing Changan Automobile Co. and Jiangling Motors Corp.

Ford’s plan follows that of Volkswagen AG, which received approval in May for a new joint venture to produce electric cars. Daimler AG and BMW AG also have electric car brands under their partnerships with BYD Co. and Brilliance China Automotive Holdings Ltd. Volvo Car Group plans to offer only hybrid or fully battery-powered motors on every new model rolled out as of 2019.(SD-Agencies)

 

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