UNITED NEWS INTERNATIONAL (UNI) — Detroit-based Ford Motor Company is exploring a partnership with a Shanghai company to build electric vehicles in China.
On Aug. 22, Ford said it had signed a memorandum of understanding with Anhui Zotye Automobile Company. The two carmakers are trying to figure out how they can work together to develop, build and sell new all-electric cars in the Chinese market.
Ford predicts the growing Chinese market will demand 6 million so-called new energy vehicles within the next eight years — including 4 million all-electric cars but the Detroit Free Press says Volvo, General Motors, Nissan and Volkswagen are targeting the Chinese market too.
Any vehicles produced under a potential Ford-Anhui Zotye partnership would be “sold under an indigenous brand owned by the new joint venture.” Details are still pending a final agreement.
Meanwhile, Ford already plans to roll out 13 new electric-powered cars worldwide in the next five years.