Ford Smart Mobility, Zotye sign agreement to form JV to offer EVs to mobility companies
JV will also explore opportunity to leverage Ford Smart Mobility’s Transportation Mobility Cloud to provide data analysis and transportation services
Ford’s wholly owned subsidiary Ford Smart Mobility has signed a definitive agreement with Zotye Auto in Shanghai, China on Thursday (27 September) to establish a joint-venture (JV) to provide smart, all-electric vehicle solutions to fleet operators and drivers for the Chinese ride-hailing market, the automaker said in a press release. The 50:50 JV, will provide “one-stop” service for ride-hailing fleet operators and drivers in China with electric vehicle (EV) leasing, fleet management solutions and in-vehicle services. The new JV, with registered capital of USD20 million, will be located in Hangzhou, in Zhejiang province. The JV will initially focus on ride-hailing market in Zhejiang province with plans to expand to other provinces later.
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