The The models that this company manages are for

The Ford company is an American company that was created
in 1919 by Henry Ford, and has its headquarters in the state of Michigan. Ford carries
out all the processes of the creation of the automobile that includes from the
design until the automobile is sold to the customer.

The models that this company
manages are for all the different needs of society. For example, it has cars,
trucks, work vans up to luxury models such as Lincoln. Currently, this company
has operations in various parts of the world such as in Latin America, North
America, Asia, Europe, among others.

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On the other hand, in 2003 Zotye
automobile company started its operation in Zhejiang, China. This company is a
privately owned, some of the main activities are vehicle assembly, transmitions
and many of the products car lines. This Chinese company is positioned as
leader in the sale of cars that are completely electric, which reached a sale
of more than 22,500 cars sold this year.

The project that both companies
carry out is to create a new brand called Zotye Ford Automobile, which aims to
manufacture electric vehicles at affordable prices for society and with a touch
of luxury. This agreement was signed in Beijing on November 08, 2017.

It
is worth mentioning, that all responsibilities, profits, risks, among others
will be divided equally, in other words 50% and 50%.

Ford,
wants to start operations in the environmental sector, that is why Zotye is an
excellent opportunity to achieve this initiative and in turn both companies
will be complemented with the resources, technology and reputation that both parts
already have.

To
start running operations with this new joint venture, an investment of $ 756 million
is already given to start the construction of the plant in the Zhejiang region.

On
the other hand, Ford has the goal to convert 70% of its cars sold during this
year will be able to have the option of converting them to electric cars by
2025.

In
conclusion, in a short period of time this new joint venture, promises to
change the common idea of electric cars.