Ford Smart Mobility and Zotye form JV to supply EVs for Chinese ride-hailing markets

The 50:50 JV that will focus on providing smart, customised all-electric vehicle mobility solutions to fleet operators and drivers in China's fast-growing ride-hailing market.

Jim Farley, executive vice president and president of global markets, Ford Motor Company, and Ying Jianren, chairman of Tech-New Group Ltd., the parent company of Zotye Auto, witnessed the signing of the JV contract between the two companies today at the Ford office in Shanghai. Peter Fleet, Ford group vice president and president of Ford Asia Pacific and Jin Zheyong, chairman of Zotye Auto, signed the contract on behalf of the companies.

Pending regulatory approval, the new joint venture will provide a comprehensive "one-stop service" for ride-hailing fleet operators and drivers with all-electric vehicle leasing, fleet management solutions, connectivity and in-vehicle services.

"As part of our "˜In China, For China' strategy, this new JV will enable us to offer more mobility services and products to fleet operators and drivers in China," said Jim Farley, executive vice president and president of global markets, Ford Motor Company. "By providing smart solutions for China's booming ride-hailing market, we are moving fast to deliver on our "˜smart vehicles for a smart world' vision in this important market."

With registered capital of US$20 million, the new JV will be located in Hangzhou, Zhejiang province. Services will initially focus on the ride-hailing market in Zhejiang, with plans to expand to other provinces.

Under the agreement, the all-electric Zotye Z500EV sedan will be the first to be leased to fleet operators and drivers, chosen for its interior roominess and estimated range of more than 330 kilometres. Advanced infotainment systems and connectivity services will also be developed and added to the vehicles to improve the passenger experience.

The new mobility JV will also work closely with the Zotye-Ford manufacturing JV, which will build a range of stylish and affordable all-electric vehicles for consumers in China under a new indigenous brand, pending regulatory approval. Zotye-Ford vehicles will be added to the offering for fleet operators and drivers, once they are available.

"Signing this definitive agreement today underscores the strength of the relationship between Zotye and Ford," said Ying Jianren, chairman of Tech-New Group Ltd. and board director of Zotye Auto. "This is the beginning of an exciting partnership to deliver smart mobility solutions for fleet operators, drivers and customers in China."

The new JV will explore opportunities to leverage the Transportation Mobility Cloud (TMC) to provide data analysis and transportation services, helping fleet operators enhance fleet management scale and effectiveness. The new JV will also support cities in their smart transportation initiatives to improve traffic flow and enhance the commuter experience.

Created by Autonomic, a wholly owned subsidiary of Ford Smart Mobility LLC, TMC is an open and cloud-based platform that provides standardized data and infrastructure for developers to build value-added software programs for connected vehicles. Last month, Autonomic and Alibaba Cloud signed a Memorandum of Understanding (MOU) to bring the TMC to China.