The Joint Venture With A Chinese Motor.
Motley Fool Returns
Ford is officially ending its plans for electric car joint ventures with Chinese carmaker Zotye. Ford did not explain which specific changes triggered the withdrawal.
Zotye did not respond to a request for comment to Reuters news agency. Tesla also became the first carmaker in China during that time to start producing electric cars without any joint venture partner.
Ford will make EVs in China with its existing partners instead.
A year later, a memorandum of understanding was signed, according to which electric cars for ride-hailing fleets would also be built. Now, the joint venture was and will never actually come to be.
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