Ford Smart Mobility, Zotye Auto sign contract for smart mobility joint venture

Shanghai (Gasgoo)- Ford Smart Mobility, a wholly-owned subsidiary of Ford Motor, and Zotye Automobile Co., Ltd (Zotye Auto) signed the final contract for a 50:50 joint venture, which will work on providing tailored intelligent EV mobility solutions for ride-hailing service providers and drivers. 

The joint venture, dubbed Zotye-Ford Smart Mobility Joint Venture, still awaits governmental approval. It is designed to provide Chinese ride-hailing operators and drivers with one-stop services, including pure electric vehicle rental, fleet management as well as intelligent connectivity and on-board infotainment services. 

Involving a registered capital of $20 million, the new joint venture will be located in Hangzhou, capital of Zhejiang province. It plans to develop ride-hailing businesses in Zhejiang market first and then gradually move outward.

Under the joint venture contract, the Zotye Z500EV pure electric sedan will be first leased to operators and drivers for ride-hailing services. Boasting a spacious seating room inside, the Zotye Z500EV features a combined range up to 330km. The EV model is equipped with advanced in-vehicle infotainment and intelligent connectivity systems in order to enhance users' driving experience.   

Besides, the new joint venture will conduct close cooperation with Zotye Ford Automobile Co. Ltd (Zotye Ford Auto), a 50:50 joint venture announced by Ford Motor and Zotye Auto in last November, aiming to offer a range of stylish and affordable electric vehicles for consumers in China. It means that ride-hailing operators and drivers will be given more model options from Zotye Ford Auto after it obtains the governmental approval to manufacture its own vehicles.