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Ford to launch more than 30 new models in China over next three years

Video Credit: Reuters Studio - Duration: 01:41s - Published < > Embed
Ford to launch more than 30 new models in China over next three years

Ford to launch more than 30 new models in China over next three years

Ford plans to launch more than 30 new models in China over the next three years, of which over a third will be electric vehicles, it said on Wednesday.

As David Pollard reports, the announcement comes amid efforts to reconfigure its global presence and revive sales.

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Ford to launch more than 30 new models in China over next three years

They make America's favourite pick-ups - according to the advertising slogans ... But increasingly Ford looks to China to restore its fortunes .... It plans, it said on Wednesday (April 3), to launch more than 30 new models there over the next three years - a third will be electric.

Ford, NEV and China aren't a new combination .... This was the launch of the Mondeo Energi hybrid two years ago.

(SOUNDBITE) (English) MARK FIELDS, FORMER CEO, FORD, SAYING: "So 2025, we expect nearly 70 percent of our vehicles in China to have some sort of electrification option.

And that's really driven not only by the consumer demand but also by regulations." But this new announcement makes clear plans to improve relationships with joint venture partners, and to localise its management team.

The U.S. carmaker ran up losses in all regions outside of the U.S. in Q4.

And last week said it's closing two joint venture Ford Sollers assembly plants and an engine factory in Russia - exiting the passenger vehicle market there.

(SOUNDBITE) (English) AUTOTRADER, EXECUTIVE ANALYST, MICHELLE KREBS, SAYING: "Ford, in a bigger picture, is looking at all of its operations and trimming it in various markets.

They have adopted sort of a GM strategy in that they don't intend to have every product in every market or be in every market.

So, I think this will be a part of what we see going forward." And its presence in the British economy appears far from guaranteed.

Tariffs arising from a possible hard Brexit could cost it one billion dollars, it warned on Tuesday (April 2).

Its Europe chairman says it's already spending tens of millions preparing for that.

The best case scenario would be an eleventh-hour deal .... Even if that means, he said, money spent preparing for Brexit would be "wasted".




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