In BriefFord has partnered with Chinese automaker Zotye to create a new line of electric vehicles. Forty percent of all electric vehicles bought in 2016 were purchased in China, so this market seems perfectly suited for such a venture.
In recent months, China has stepped up its game in replacing fossil fuels with renewable resources. From electric public transportation to a new, reusable rocket and a bold stand against dangerous pollution, the country is taking a firm stand against climate change and pollutants. This national movement is now bolstered by a new partnership between Ford and Chinese automaker Zotye. Together, they will create a brand new line of electric vehicles (EV) specifically for Chinese citizens.
Operating under a conjoined name — Zotye Ford Automobile Company — the collaboration will offer “a range of stylish and affordable electric vehicles for consumers in China.” The pair are working as equal partners, investing a combined $756 million (RMB 5 billion) in the budding business.
Many American automakers see untapped potential in the Chinese auto market, and since Chinese EV sales accounted for 40% of global EV sales in 2016, there is clearly a growing demand for EVs over traditional cars. Since the vehicles are manufactured locally in China and exist under a Chinese brand, this partnership eliminates the large import duty that would exist if they were manufactured overseas or by Western companies locally.
Some have criticized the initial design models for being too similar to existing vehicle models, but the growing demand and creation of affordable EVs will support the major global shift away from fossil fuels.