Contact Us

Home> New Energy> News detail

Zotye Ford expected to gain regulatory approval in second half this year

Catherine From Gasgoo| March 01 , 2018

Zotye Ford China, Mondeo Energi plug-in Ford China, Ford China, China auto news

Shanghai (Gasgoo)- The establishment work of the joint venture Zotye Ford has been going well, and the program is expected to receive regulatory approval in the second half of this year, according to Peter Fleet, Group Vice President and President, Ford Asia Pacific.

What’s more, the head also revealed that Ford will invest 11 billion dollars in vehicle electrification by 2022, the majority of which will be for the development of electric vehicles in China.

Last November, Ford Motor and Zotye entered into agreement to set up joint venture and each company holds 50 percent stake of Zotye Ford joint venture. Located in Jinhua, an important economic region in Zhejiang province, the joint venture is to produce affordable all-electric vehicles. The new factory, with a total investment of RMB 5 billion, will start production in September, 2019. The annual production capacity will be up to 300,000 units while the first phase can produce 100,000 units.

In 2020, the American automaker will produce electric vehicle powertrain system in China and will supply comprehensive electrification solution for Chinese customers by 2025, the company said in its China Electrification Strategy released in last April.

Ford will provide electric vehicle products in different segments via the three brands, Ford brand, Lincoln brand and Zotye Ford. To expand its electric vehicle portfolio in China, Changan Ford will start manufacturing the Mondeo Energi plug-in hybrid this year.

Gasgoo not only offers timely news and profound insight about China auto industry, but also help with business connection and expansion for suppliers and purchasers via multiple channels and methods. Buyer service: buyer-support@gasgoo.com   Seller Service: seller-support@gasgoo.com

All Rights Reserved. Do not reproduce, copy and use the editorial content without permission. Contact us: autonews@gasgoo.com.

Hot Auto Products| e-Catalog| Auto Products Directory| Auto Parts Manufacturers|

Gasgoo Site: Automotive News| 中文站| 汽车资讯| 出口供应商| 汽车社区|

Copyright Notice © 2016 Gasgoo.com Corporation and its licensors. All rights reserved.