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Ford signs China EV partnership deal with Zotye

|About: Ford Motor Company (F)|By:, SA News Editor

Ford (F -0.2%) signs a joint venture agreement with Zotye to establish a new 50-50 JV to meet growing EV demand in China.

The company says the new JV will leverage a combined investment of $756M.

"We are delighted to have signed this joint venture agreement with Zotye to form our third joint venture automotive company in China. Subject to regulatory approval, Zotye Ford will introduce a new brand family of small all-electric vehicles," says Ford Asia Pacific VP Peter Fleet.

Ford press release (.pdf)

Previously: Ford aims big in China EV market (Aug. 22)

Previously: China expected to open up EV market (Sept. 20)

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