Ford Motor Co. said Tuesday it will introduce more than 50 new vehicles in China by 2025. The automaker’s China growth plan includes the assembly of five more vehicles in China, starting in 2019, and an increase in engineering and research and development capabilities locally to support the growth plan. The new vehicles in China will include eight SUVs, at least 15 electrified vehicles from Ford and Lincoln and the Zotye-Ford JV will launch a new range of affordable all-electric vehicles. Ford said it will continue to work with China-based internet company Baidu Inc. to develop driverless cars. “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 Chairman Bill Ford. The stock, which tacked on 0.3% in premarket trade, has rallied 11% over the past three months, while the shares of rival General Motors Co. have climbed 16% and the Dow Jones Industrial Average has gained 12%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News