September 20, 2018

Ford Motor Company (F) Outlines Bold New China Growth Plan

06 December 2017, 12:57 | Casey Mitchell

Ford Motor Company (F) Outlines Bold New China Growth Plan

Extending the tax rebate will give a fillip to China’s development of the NEV industry a term used to refer to electric vehicles plug-in hybrids and fuel-cell cars

The automaker, now a small player in the world's largest auto market, announced the ambitious plan on Tuesday in Shanghai.

Ford's research also found that Chinese consumers are less fearful of the potential problems electric cars could introduce than some of their global counterparts.

The new Zotye-Ford joint venture will also launch an all-new range of affordable all-electric vehicles to help address China's aggressive government mandate to switch to EVs.

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Today, Ford announced a major expansion of its electric vehicle plans in China with 15 new models. Ford hopes to have 15 models ready by 2025.

Ford believes China is poised to become the most favorable market for the development and sale of electric vehicles, according to the US auto giant's executive chairman. "We are very excited to see this vision come to life in China", he said.

Added [CEO Jim} Hackett: "Ford's aspiration is to become the world's most trusted mobility company, designing smart vehicles for a smart world". They have been encouraged by China and Beijing's governments, which have put significant resources behind electric vehicle manufacturing and have introduced regulations that mandate auto companies sell a greater proportion of electric and hybrid vehicles or get shut out of the world's biggest auto market.

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The company also outlined its planned shift toward smart vehicles, saying that all new Ford and Lincoln vehicles in China will be connected to the internet by the end of 2019. "We now have a chance to expand our presence in China and deliver even more for customers, our partners and society". By 2019 it will be building five new Ford and Lincoln models including a premium Lincoln SUV and the aforementioned plug-in electric vehicle in China.

The best current example being the Ford Eco Sport, a sub-compact crossover built in Brazil and India for local markets that fell short of expectations when initially launched in Europe in 2014.

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