Ford, Zotye will invest $756 million to build electric cars in China

By Editorial Staff Ford and Zotye today reached a definitive agreement to establish Zotye Ford Automobile Co., Ltd., a new 50:50 joint venture that will offer a range of stylish and affordable all-electric cars for consumers in China under a new indigenous brand.
The agreement was signed in Beijing today by Peter Fleet, Ford group vice president and president, Ford Asia Pacific, and Ying Jianren, chairman of Tech-New Group Ltd. and board director of Zotye Auto.
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 establishment of the JV is

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