Ford Seals Big Deal for Chinese Electric Cars in Time for Trump
- JV with Zotye announced during U.S. president’s visit to Asia
- Ford-Zotye electric cars will be sold under new Chinese brand
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Ford Motor Co. is going all-in on electric cars in China, the world’s largest market for battery-powered vehicles, and it wants President Donald Trump to know about it.
The second largest U.S. automaker said Wednesday it’s finalized an alliance with China’s Anhui Zotye Automobile Co. to manufacture and sell a full line of electric vehicles. The companies will invest 5 billion yuan ($756 million) to develop the cars they’ll sell under a new brand unique to the Chinese market.