Ford names former Key Safety exec Luo to steer China unit

Paterniano Del Favero
Agosto 24, 2017

Ford expects the market for "new energy vehicles", or NEVs, in China to grow to 6 million units per year by 2025, of which approximately 4 million vehicles will be all-electric, Ford officials noted. The market is also skewed by heavy government support for electric vehicles, prompting Ford to seek partners and expand local production. While at Key Safety Systems, he led the business transformation and global expansion of the company and achieved significant revenue growth in China.

In his new role, Luo will lead the company in Greater China including its import business, Lincoln, its passenger auto joint venture Changan Ford, commercial vehicle investment in Jiangling Motors Corporation and operations in Taiwan.

He takes the reins from Peter Fleet, who has since July held both the China job as well as his current role of group vice president and president of Ford Asia Pacific.

The goal of the Ford-Zotye agreement is to explore a joint venture that would develop, produce, market and service a new line of all-electric passenger vehicles in China, but ripples from the deal and Ford's endeavors in the country could be felt elsewhere.

A new brand of electric passenger vehicle could be on the horizon thanks to a potential partnership between Ford Motor Co. and one of China's growing automakers. China is the fastest-growing market in the world for new energy vehicles. Ford expects this market to grow to as many as six million units per year by 2025, of which almost 4 million vehicles will be all-electric.

Ford said in 2015 it planned to invest $4.5bn on electrification efforts, introducing 13 hybrid and electric vehicles by 2020.

Privately owned Zotye Auto, headquartered in the eastern city of Huangshan, produces its own electric vehicles and said sales in the first seven months of this year rose 56 percent over the same period of 2016 to 16,000.

Earlier this year, Ford outlined an ambitious China electrification strategy and confirmed that 70% of all Ford vehicles sold in China will have electrified powertrain options by 2025. The companies want to set up a 50/50 joint venture for the development and marketing of a new series of electric cars.

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