Ford Motor is exploring a joint venture (JV) with Anhui Zotye Automobile Co, the Chinese company behind the Porsche Macan clone, to build electric vehicles in China under a new brand according to Reuters. The JV, if penned down, will see the two brands hold a 50-50 stake in the yet to be named company.
The Chinese Government has been aggressively pushing for electrified vehicles to combat its rising pollution levels. Incentives and tax breaks are awarded to companies that invests in the development and production of clean vehicles locally. Volvo is also another major car brand that will be taking advantage of the said incentives to build their first electric car.
Zotye has recently revealed their first ever hybrid car, in the body of a Macan no less, signalling their focus to low-emission vehicles. Ford on the other hand is committed to develop no less than 13 electrified vehicles globally in the next five years. This JV will propel the two brand’s electrification goals but the moment, the two firms remain quiet on the details of it.
Source: Reuters
