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Ford and Zotye agreement for All-Electric Vehicles

Ford and Zotye Sign Definitive JV Agreement in China to Meet Growing Demand for All-Electric Vehicles. Meanwhile sales rose 0.9% in December, fuelled again by F-Series pickups sales.

Ford announcement:

Ford and Zotye signed a definitive joint venture agreement to establish Zotye Ford Automobile Co. Ltd., a new 50:50 joint venture that will offer a range of stylish and affordable electric vehicles for consumers in China

Pending regulatory approval, the new JV will develop and manufacture all-electric vehicles under a new Chinese brand

Zotye Ford also plans to build a new manufacturing plant in Zhejiang Province. A new dedicated sales and service network also will be established

Ford and Zotye also will explore the opportunity to offer new mobility services in China to help provide solutions for emerging transportation challenges

Reuters: Ford, China's Zotye Auto invest $756 million in electric vehicle JV

Other Ford News Ford F-Series Pickup Wins December, Full-Year Sales Races

Detroit Free Press: Ford's December sales tick up slightly, fueled by F-150; FCA, GM and Toyota down