SUBSCRIBERS
Ford, Zotye to invest 5b yuan in China electric cars
Published Wed, Nov 8, 2017 · 09:50 PM
Beijing
FORD Motor Co and partner Anhui Zotye Automobile Co will invest five billion yuan (S$1.03 billion) to make and sell small electric cars in China as vehicle makers step up investments in low-emission vehicles in the world's biggest car market.
Ford and Zotye plan to build a new manufacturing facility in Zhejiang province and the vehicles will be sold under a new Chinese brand, the US carmaker said on Wednesday.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Meta will let advertisers create campaigns using new generative AI tools
Match posts sixth straight decline in Tinder users; shares fall
Reddit gains after strong sales in first report since IPO
OpenAI inks licensing deal with People magazine publisher
Apple unveils new AI-focused chip in upgraded iPad Pro models
DBS CEO Piyush Gupta sells S$2.7 million worth of bank shares