(Yicai Global) April 7 -- Ford Motor Co. [NYSE:F] announced that it plans to introduce two new electric vehicles to the Chinese market and offer a broad range of EVs in the country by 2025.
As part of the automobile manufacturer's China electrification strategy, the Mondeo Energi will be launched in early 2018. It will be the first plug-in hybrid manufactured by the Changan Ford JV. Ford also confirmed plans to bring a fully electric small SUV to Chinese buyers in the next five years. The SUV will be sold in China, North America, and Europe and will be designed to have an estimated range of more than 540 kilometers.
China has become the world's largest market for new energy vehicles thanks to government support and increasing consumer acceptance. New energy passenger vehicles are expected to account for more than 15 percent of all car sales in China in 2025, according to SAE-China.
"The time is right for Ford to expand our EV lineup and investments in China," said Mark Fields, Ford's president and chief executive. "We are prioritizing our electrification efforts on China to reflect its importance as a global electrified vehicle market and to make lives better, simpler and more cost effective for Chinese consumers."
Fields will talk further on the company's electrification strategy at a special event in Shanghai on April 8.
Ford will start producing electrified powertrains in China by 2020. The carmaker will also enhance its new energy vehicle engineering capabilities at its Nanjing Research and Engineering Centre, with a focus on better meeting the needs of Chinese consumers.