Ford Motor Company’s CEO, Allan Mulally, recently told Bloomberg Television that his company might build electric cars with its partner in China while the automaker is also looking to introduce the Lincoln brand into the market.
“As we move towards electrification, you’re going to see more hybrids, plug-in hybrids and all-electric cars”, said Mulally while on a trip to Chongqing, China, for the founding of a new transmission plant in partnership with Changan Automobile Group.
The CEO did not specify when or which EVs Ford is considering to make in China in cooperation with its local partner, only that it depends on infrastructure and progress in battery pack technology. The Chinese government’s intention is to have at least one million electric cars on the streets by 2015 in order to reduce emissions.
Mulally added that Ford, which aims to double its presence in all segments in the local market, is considering bringing the Lincoln brand to China: “We have a great luxury brand in Lincoln. There’s going to be tremendous pull from China to have access to these great vehicles.”
Introducing Lincoln to the Chinese market might prove a profitable movement, since JD Power estimates that luxury car sales will increase by 15% in 2011 alone.
Ford came a little late to the China booming car market party, but intends to make up for it by investing $1.6 billion USD in the construction of four new plants in order to achieve its goals. Currently its share in China is just 2.7%, while GM’s is more than triple, at 10%.
Story source: Bloomberg
