Ford Signs Deal to Build Electric Cars in China

Ford Partners With China's Zotye to Build Electric Vehicles

Ford Seals Big Deal for Chinese Electric Cars in Time for Trump

Trump, who has pressured U.S. company to repatriate jobs to the United States, will address the USA trade deficit with China during talks with President Xi Jinping tomorrow.

"Zotye Ford will introduce a new brand family of small all-electric vehicles", Ford group VP Peter Fleet said in the statement. Foreign automakers have two choices: Pay a hefty 25 percent import tax on vehicles or partner with a local company to produce cars in the country.

China will also impose in 2019 a quota requiring automakers to produce a minimum number of new-energy vehicles. Ford sold more than six million worldwide previous year.

Fleet said the Focus sedan made at Changan Ford will be exported to the United States, but he did not give a specific schedule.

Operating under a conjoined name - Zotye Ford Automobile Company - the collaboration will offer "a range of stylish and affordable electric vehicles for consumers in China". Once complete, they will build the cars in China's Zhejiang Province.

The joint venture will build a plant in Zhejiang province with an annual production capacity of 100,000 cars when completed, and establish its own research and development center. The joint venture will also explore new ownership models such as vehicle sharing and auto pooling.

Ford had pledged in the past that it needs at least 70 percent of its Chinese sales to be electrified by 2025, and this puts Ford on the right path to achieve that goal.

Many American automakers see untapped potential in the Chinese auto market, and since Chinese EV sales accounted for 40% of global EV sales in 2016, there is clearly a growing demand for EVs over traditional cars.

A joint-venture with Zotye will mark Ford's third partnership in China.

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