Ford Making EVs With Chinese Company In $765M Deal

Ford will work with Zotye Auto, a Chinese automaker, to manufacture electric vehicles as part of a $765 million deal. They'll work together in a 50-50 partnership as long as the deal is approved by the government. Their joint venture plans to open a manufacturing facility in the Zhejiang province.

A new brand, Zotye Ford, will be used for the electric vehicles. Ford's Peter Fleet says the company will explore "innovative vehicle connectivity and mobility service solutions for a new generation of young city-dwelling Chinese customers." Zotye Ford will be focused on small cars.