Zotye and Ford have formed a joint venture to develop and manufacture electric vehicles in China under a new brand, after an investment of some 650 million euros.
You will almost certainly remember Zotye International, the Chinese company that gained popularity with its SR9 and E200 models, perfect copies of the Porsche Macan and Smart ForTwo respectively.
But now the Chinese company has decided to embark on a new path and has partnered with Ford to produce electric vehicles in China . Ford does not want to be left out of the game in that market, where the transition to electric mobility is imminent thanks to the actions promoted by the government and that is why he has made the decision to sign an agreement with a local company .
With this agreement, and through an estimated investment of 650 million euros at the current exchange rate, Ford and Zotye have formed a joint venture that will be responsible for the development, design, production and manufacture of a series of electric models , with the aim of marketing them in the Chinese market .
The investment includes the construction of a research and development center, a product development center and a factory for the assembly of vehicles , as well as the corresponding sales and service centers.
For the moneto neither of the two companies has given details about how this new range of electric vehicles will be conformed, as well as when the first of them will arrive at the market. However Ford has committed to at least 70% of the vehicles sold in China in the year 2025 are hybrid or purely electric.
It is the Chinese government itself that is driving this transition , pushing manufacturers to develop cars with alternative energies, with the intention of banning vehicles with combustion engines by 2030 . In this scenario, there are already several manufacturers that have announced agreements to start the development and production of electric vehicles in China .