Ford Smart Mobility LLC and Zotye Auto today signed an MOU to establish a new 50:50 JV that will focus on providing smart, customized all-electric vehicle solutions to fleet operators and drivers in China’s fast-growing ride-hailing market. Ford Smart Mobility LLC is a Ford Motor Company subsidiary formed to design, build, grow and invest in emerging mobility services.
The new mobility JV will work closely with the Zotye-Ford manufacturing JV, which will build a range of stylish and affordable all-electric vehicles for consumers in China under a new indigenous brand, pending regulatory approval.
The Zotye-Ford mobility JV will provide ride-hailing fleet operators and drivers with all-electric vehicle leasing services, data-driven fleet management solutions, in-vehicle digital services, connectivity and vehicle customization.
The new JV will be located in Zhejiang province and initially focus on the ride-hailing market in Zhejiang, with plans to soon expand to other provinces. It will have registered capital of US$20 million, with each company contributing 50 percent.
Zotye is one of the leading brands in China’s all-electric small vehicle segment and was one of the first automakers to produce all-electric passenger vehicles in the country. The company sold around 36,000 all-electric vehicles in 2017.
“We are delighted to have signed this MOU today to develop smart mobility solutions for cities in China,” said Ying Jianren, chairman of Tech-New Group Ltd. and board director of Zotye Auto. “This underlines the strength of the relationship between Zotye and Ford, and we look forward to working even closer in the future to provide EV fleet management support for ride-hailing services through this JV.”
As part of Ford’s commitment to building smart vehicles for a smart world, and to pave the way for a future of V2X and autonomous vehicles, the new JV will also engage with local governments and cities to support the development of integrated transportation solutions covering data connectivity and software systems to improve traffic flow, reduce congestion and enhance the commuter experience.
“Last year, our two companies agreed to explore mobility services together to solve emerging transportation challenges for Chinese customers,” said Peter Fleet, Ford group vice president and president, Ford Asia Pacific. “With today’s announcement, this takes us one step further to offering smart services, connected electric vehicles and data-driven solutions to make China’s urban centers cleaner and journeys more efficient and enjoyable.”
About Ford Motor Company
Ford Motor Company is a global company based in Dearborn, Michigan. The company designs, manufactures, markets and services a full line of Ford cars, trucks, SUVs, electrified vehicles and Lincoln luxury vehicles, provides financial services through Ford Motor Credit Company and is pursuing leadership positions in electrification, autonomous vehicles and mobility solutions. Ford employs approximately 202,000 people worldwide. For more information regarding Ford, its products and Ford Motor Credit Company, please visit www.corporate.ford.com.
Ford’s wholly owned subsidiaries, joint ventures and investment in China include Ford Motor (China) Limited, Ford Motor Research & Engineering (Nanjing) Co., Ltd., Ford Automotive Finance (China) Ltd., Changan Ford Automobile Co., Ltd., Changan Ford Mazda Engine Co., Ltd. and Jiangling Motors Co., Ltd.