On November 8, Zotye and Ford reached a joint venture agreement. Mr. Peter Fleet, Group Vice President of Ford Motor Company (and President of Asia Pacific Region) and Chairman of Tieniu Group and Director of Anhui Zotye Automobile Co., Ltd. Mr. Ying Jianren formally signed a joint venture agreement in Beijing. Ford and Zotye will establish a new joint venture, Zotye Ford Automobile Co., Ltd.

Both parties will each invest 2.5 billion yuan in the new joint venture, with a share ratio of Ford and Zotye each accounted for 50. According to Electric News, the models produced by the new company are positioned as economical pure electric passenger cars under the joint venture's own brand, which means that it will not produce Ford brand new energy vehicles. I don't know if they are. Instead of developing a new brand similar to Junma, it will directly produce new models under the Zotye brand. In addition, the new joint venture also plans to build a new production plant in Zhejiang Province and establish a new sales and service network. p>

Since the Ministry of Industry and Information Technology announced the Measures for the Parallel Management of Passenger Car Enterprises’ Average Fuel Consumption and New Energy Points (hereinafter referred to as the dual-point policy) in September 2016 for public comment, those companies that account for a relatively large proportion of China’s fuel vehicle market have Foreign brands are a little bit restless. Since China's dual points policy is imperative, these big-name foreign brands have chosen to cooperate with Chinese car companies that produce new energy vehicles to form joint ventures when they do not have enough time to respond. To produce new energy vehicles, Volkswagen and JAC were the first, and then Daimler and BAIC, while Ford chose Zotye. At that time, it was reported that Ford would cooperate with Zotye to form a joint venture, which surprised many people in the industry. After all, Volkswagen chose JAC and Zotye. Daimler chose BAIC (in fact, Daimler had already formed Denza with BYD, but Denza has never given a satisfactory answer). It can also be said that JAC and BAIC have their own good new energy vehicle products, and Zotye also has There are many new energy vehicle models, but the competitiveness in passenger cars seems to be a bit weak. Now Ford and Zotye have officially signed an agreement to establish a new joint venture. Perhaps they value the ability of Zotye's new energy vehicles to gain popularity. After all, So many points for fuel vehicles need to be offset by new energy points. Although Zotye's new energy vehicles do not have a very good reputation in China, it has to be said that there are still many consumers who buy Zotye's new energy vehicles.

Ford and Changan jointly formed Changan Ford, and the cars produced by Changan Ford also use Ford's logo. The reason why Ford did not choose to further cooperate with Changan in new energy vehicles this time may be because it saw Changan Ford's success in new energy vehicles. There hasn't been much progress in the energy vehicle sector, and Changan Ford's sales have been gradually declining in recent months. Sales data shows that Changan Ford's sales of nearly 80,000 vehicles in September were down 5% year-on-year. Sales of 207,000 vehicles in the third quarter dropped by 9% year-on-year; cumulative sales from January to September were nearly 567,000 vehicles, a decrease of 15% from the same period last year. As the sales representative of Changan Ford, Focus sales in the first nine months of this year were 116,000. vehicles, down 28% year-on-year.