JAKARTA - United States automotive manufacturer Ford Motor announced the termination of its cooperation plan to launch an electric car with China's Zotye Automobile.
In a statement issued Thursday, February 4, there were no detailed reasons, but Ford said the decision was driven by China's electric vehicle industry and government policies have undergone major changes since the agreement was signed in 2017 and 2018.
Ford also said it would use a flexible business model in China, by exploiting all the potential Ford has in China and other locations, and building an integrated business center, as reported by Reuters.
For information, during the visit of former US President Donald Trump to China in 2017, Ford and Zotye announced that they would invest USD 756 million to make electric vehicles in China with a cooperation scheme 50-50.
Whether there is a connection or not, last week, Ford said that they would collaborate with the Chinese company, Chongqing Changan Automobile Co., to build the Electric Mach-E Mustang electric vehicle.
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