Ford to Boost Investment, New Models, and Production in China as Part of Growth Plan
Ford executives unveiled their China expansion strategy earlier this week.
Photo Courtesy: Ford Motor Co.
Building on a decade of growth and investments, Ford Motor Co. in Dearborn today announced the next phase of its China expansion strategy, which is focused on SUVs, electric and connected vehicles, and a streamlined business structure with closer connections to Chinese customers. Executive chairman Bill Ford and CEO Jim Hackett shared the vison while meeting with employees, customers, dealers, and government officials in China this week.
In 2019, Ford will begin producing vehicles for Chinese consumers in China, including a new Lincoln premium SUV and the company’s first global fully electric SUV. Ford also plans to offer more than 50 new Ford and Lincoln vehicles in China by 2025, with an increased emphasis on SUVs and electric vehicles.
The automaker also will launch at least 15 new electrified vehicles from both brands and the Zotye-Ford joint venture signed in August will deliver a separate range of all-electric vehicles under a new brand, pending regulatory approvals.
“China is not only the largest car market in the world, it’s also at the heart of electric vehicle and SUV growth and the mobility movement,” says Ford. “The progress we have achieved in China is just the start. We now have a chance to expand our presence in China and deliver even more for customers, our partners, and society.”
To enable further growth in this market, Ford will contain structural cost throughout China through 2018, aiming to generate greater efficiencies, become more operationally fit, and deliver additional value to shareholders. Ford believes streamlining can help increase revenue 50 percent by 2025.
“From luxury Lincolns, to Ford cars and SUVs, to an all-new electric vehicle brand, we will meet the growing desire and need in China for great new energy vehicles,” says Jason Luo, chairman and CEO of Ford China. “Each of them will be safe, efficient, fun to drive, and backed by an ecosystem that makes charging, sharing, and servicing easy.”
After strengthening relationships with its joint venture partners Changan and Jianglng in 2018, Ford will establish one distribution services division responsible for marketing, sales, and services associated with all Ford vehicles sold in China. The division will offer a simplified and consistent customer experience for all consumers throughout China.