Ford: signs joint venture for ride-hailing market in China

(CercleFinance.com) - Ford said on Thursday that it had signed a joint venture agreement to offer leasing and fleet solutions to Chinese ride-hailing operators.


The US car maker said it has signed a definitive joint venture agreement to establish Zotye Ford Smart Mobility Technology, a 50:50 joint venture that will focus on China's fast-growing ride-hailing market.

It aims to provide a comprehensive "one-stop service" for ride-hailing fleet operators and drivers with all-electric vehicle leasing, fleet.

Under the agreement, the all-electric Zotye Z500EV sedan - which boasts an estimated autonomy of over 330 kilometres - will be the first to be leased to fleet operators and drivers.

The joint venture will be located in Hangzhou, Zhejiang province, with plans to expand into other provinces.



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