Ford Exits the Chinese Market
Former auto giant Ford has been retreating step by step in the Chinese market, and has even exited the Chinese market.
Former auto giant Ford has been retreating step by step in the Chinese market, and has even exited the Chinese market.
Members of the U.S. House Select Committee on the Chinese Communist Party questioned Ford Motor over its cooperation with Chinese companies such as Geely and CATL, expressing concern that such cooperation helps CCP enterprises expand in the United States and globally and harms U.S. security; Ford responded.
Ford plans to adjust the layout of some of its U.S. battery plants and introduce lithium iron phosphate (LFP) battery technology licensed from CATL, with Ford leading the expansion of production in the United States while complying with U.S. laws.
Ford and Geely reached a cooperation deal to establish a joint venture in Spain, with Ford holding 66% and Geely holding 34%, using Ford's local plant to produce models for the European market.