Ford, China's Zotye Auto plan JV to build electric vehicles
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Ford Motor (F) Announces MOU for All-Electric Vehicle JV with Zotye Auto in China; JV is 50/50
August 22, 2017 5:41 AM EDTFord Motor Company (NYSE: F) today announced the signing of 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. The announcement is consistent with Fords vision for a more sustainable auto industry, as well as efforts to contribute to societal goals of improving air quality and addressing climate change.
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