Ford Introducing Over 50 New Vehicles in China by 2025
Expanded product portfolio places stronger emphasis on SUVs, with eight all-new utilities, along with more electric vehicles.
Building on a decade of significant investments and growth, Ford today outlined the next phase of its China expansion strategy, focused on SUVs, electric and connected vehicles, a streamlined business structure and closer connections to Chinese customers.
Executive Chairman Bill Ford (pictured right) and CEO Jim Hackett shared the vision on Dec. 5 while in China this week to meet with employees, customers, dealers and government officials.
“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,” said Bill Ford.
“The progress we have achieved in China is just the start,” he added. “We now have a chance to expand our presence in China and deliver even more for customers, our partners, and society.”
Added Hackett: “Ford’s aspiration is to become the world’s most trusted mobility company, designing smart vehicles for a smart world. We are very excited to see this vision come to life in China.”
‘Ford’s aspiration is to become the most trusted mobility company, designing smart vehicles for a smart world. We are very excited to see this vision come to life in China.’
To enable future growth in China, Ford will contain structural cost in the region throughout 2018, aiming to generate greater efficiencies, become more operationally fit and deliver additional value to shareholders.
Even as the team works to streamline, Ford plans to grow its China revenue by 50 percent by 2025 versus 2017 and is focusing its business expansion on three areas: even more smart, connected vehicles; closer connections to Chinese customers, and a streamlined business structure.
Even More Smart, Connected Vehicles
Ford plans to offer more than 50 new Ford and Lincoln vehicles in China by 2025. The expanded product portfolio will reflect an even stronger emphasis on SUVs, with eight all-new utilities, along with more electric vehicles.
The company will launch at least 15 new electrified vehicles from Ford and Lincoln. And the new Zotye-Ford joint venture will deliver a separate range of affordable all-electric under a new brand, pending regulatory approvals.
“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,” said Jason Luo, chairman and CEO, Ford China. “Each of them will be safe, efficient, fun to drive, and backed by an ecosystem that makes charging, sharing and servicing easy.”
‘We are responding to the rapid pace of change by delivering increased connectivity and working to improve and simplify mobility for everyone.’
Plus, by the end of 2019, 100 percent of new Ford and Lincoln-badged vehicles in China will be connected through either embedded modems or plug-in devices. Company leaders also are working on broader infrastructure opportunities to improve future mobility experiences.
Ford is one of the founding members of the Board of Baidu’s Project Apollo, building on the agreement signed earlier this year. The Apollo Open Platform accelerates the development, testing and deployment of autonomous vehicles. Ford’s participation provides an opportunity to contribute to a platform that will be key to developing autonomous vehicles in China.
“We are responding to the rapid pace of change by delivering increased connectivity and working to improve and simplify mobility for everyone,” Hackett said. “This builds on our commitment to deliver smart vehicles for a smart world, helping people around the world move more safely, confidently and freely.”
Closer Connections to Chinese Customers
In 2019, the company starts producing five additional Ford and Lincoln models in China for Chinese customers, including a new Lincoln premium SUV, and the company’s first global fully electric small SUV.
Producing vehicles locally speeds time to market, while providing greater opportunities to fully leverage the local supply base. It also allows Ford to further tailor vehicles to more closely meet the needs of Chinese customers.
“Some of our most advanced manufacturing and innovation facilities are here in China,” said Peter Fleet, President, Ford Asia Pacific. “Producing more vehicles for China locally allows us to improve the benefits for our customers, our partners, and our bottom line.”
“All of the actions outlined today reflect an unprecedented commitment to focus on the needs of consumers in China through a more fit and streamlined Ford,” added Fleet. “They are proof of our dedication to grow our business in China.”