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Ford Motor terminates electric vehicle plans with China's Zotye

Ford Motor has decided to terminate plans to launch electric vehicle joint ventures with China's Zotye Automobile it said on Thursday.

FILE PHOTO: Logo of Detroit-based Ford Motor Co
FILE PHOTO: The Ford logo is pictured at the 2019 Frankfurt Motor Show (IAA) in Frankfurt, Germany September 10, 2019. REUTERS/Wolfgang Rattay

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SHANGHAI: Ford Motor has decided to terminate plans to launch electric vehicle joint ventures with China's Zotye Automobile it said on Thursday.

It said that China's electric vehicle industry and government policies had undergone major changes since the agreements were signed in 2017 and 2018, prompting Ford's decision.

(Reporting by Yilei Sun and Brenda Goh; Editing by Tom Hogue)

Source: Reuters