Sharjah 24 – BNA: Ford Motor has decided to terminate plans to launch electric vehicle joint ventures with China’s Zotye Automobile, the U.S. auto giant said on Thursday.
It said that China’s electric vehicle industry and government policies had undergone major changes since the agreements were signed in 2017 and 2018, prompting Ford’s decision. Ford didn’t specify which changes triggered its move.
Last week, Ford said its China joint venture with Chongqing Changan Automobile Co would start making all-electric Mustang Mach-E vehicles, Reuters reported.
In a statement on Thursday, Ford said it would pursue a more “flexible business model in China” that would see it utilise its existing operations in the country and elsewhere, and build related business centres.
Zotye did not immediately respond to a request for comment.
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