Ford and Zotye forming JV in China for EVs; Ford’s third JV in the country

By mmillikin Ford Motor Company and Zotye have agreed to establish Zotye Ford Automobile Co., Ltd., a new 50:50 joint venture that will offer a range of stylish and affordable all-electric vehicles for consumers in China under a new indigenous brand. The two companies had signed a memorandum of understanding back in August to explore the possibility of such a venture. (Earlier post.)

Pending regulatory approval, the new JV will design, build, market and distribute all-electric passenger vehicles for China, the world’s leading electric vehicle market. The new JV will leverage a combined investment of 5 billion RMB (approximately US $756 million). The

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