Ford Motor Company (NYSE:F) Focus On China Growth Plan

Ford Motor Company (NYSE:F) is launching more than 50 new automobiles in China by 2025, including at least 15 electrified cars from Lincoln and Ford, and eight all-new SUVs; in addition, the latest Zotye-Ford JV will introduce an all-new range of reasonably priced all-electric automobiles.

The details

Ford Motor intends to locally assemble five more automobiles in China for Chinese consumers beginning in 2019, including the firm’s first international all-electric small SUV. It plans to rapid increase R&D and engineering capability in China to boost the aggressive growth strategy. All new automobiles in China to be internet-connected by close of 2019.

Ford has been working with Baidu Inc (NASDAQ:BIDU) on autonomous vehicle advancement. New single distribution services segment intended to release next year, intended to offer an improved experience for consumers and enhanced brand consistency while lowering costs. Establishing on years of substantial investments and growth, the company outlined the next stage of its China expansion plan, focused on SUVs, connected and electric vehicles, a reorganized business structure and strong connections to Chinese consumers.

CEO Jim Hackett and Executive Chairman Bill Ford shared the vision while in China to meet with customers, employees, government officials and dealers. Ford expressed that China is the largest car industry in the world. Moreover, it’s also at the core of SUV and electric vehicle development and the mobility movement. The progress they have recorded in China is just the beginning. They now have an opportunity to expand their presence in China and offer even more for consumers, their associates and society.

Hackett added that Ford’s goal is to become the most trusted mobility firm of the world, designing smart cars for a smart world. They are extremely thrilled to see this goal turn reality in China. To support future growth in China, the automaker will contain structural cost in the area throughout 2018, intending to record greater efficiencies and offer increased value to shareholders.

 

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Erica

Erica

Erica is a graduate of New York University’s school of Journalism. She joined US Markets Daily as a general assignment reporter in January of 2008.