Ford Signs Deal to Build Electric Cars in China

By Matthew Guy Continuing its quest to expand in China, Ford Motor Co. announced on Wednesday it has formed a joint venture with electric-vehicle giant Anhui Zotye Automobile Co in a deal worth $756 million.
In the agreement, the two automakers will join forces to develop, build, market, and distribute all-electric passenger vehicles in China, pending regulatory approval. The new partnership forms a company called Zotye Ford Automobile Co. Ltd which will be equally owned by both companies.
To achieve these goals, Zotye Ford also plans to build a new manufacturing plant in Zhejiang Province. It will also establish a new dedicated sales and service

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