Ford Electric Mustangs Will Be Built In China
Ford Is To Develop Two Production Plants in China for Local Manufacturing of Electric Vehicles
The automobile firm Ford has planned to schedule the manufacturing procedure of their iconic Mustang line-up, including electric Mustangs, to be made in China for the very first time. According to the United States concurs, the production of their upcoming electric Mustang Mach will be done in China in the last quarter of this year, as they are looking forward to tapping into the electric vehicle market of China, which is the largest marketplace for electric cars throughout the world.
Launch of electric Mustangs
In the initial weeks of the year 2021, Tesla has started the delivery of their newly launched electric car named Model Y to their Chinese clients, as they as efficiently being manufactured in their production factory located in Shanghai. Several western automotive brands, including Ford with their electric Mustang, are targeting China for their products, as the number of sales of electric vehicles is expected to have strong growth.
Volkswagen has given a public statement saying that they have also scheduled to soon provide delivery of their vehicles that are currently being produced at two newly-developed factories located in China, which are completely dedicated to the manufacturing process for electric vehicles.
The Asian country of China has become the world’s largest market for electric vehicles as more than 20 million vehicles have been reported to be sold per year across the country.
On January 29th, the German automobile company Daimler has posted stronger results obtained by the company in the year 2020, even after the global economic recession faced due to the coronavirus pandemic. The positive outcome for the firm was due to the strong recovery in the car market worldwide, which was led by China. The leader for Daimler hailed the rebounds by the company in China as too good to be true.
Local production plant of Ford
The American automaker company is in hopes with the electric Mustangs to capitalize on the recovery of the economic instability in China along with the government of China’s push for more electric cars to be used on the roads for transportation across the country.
The newly developed electrically powered Mustangs is a Sports Utility Vehicle (SUV) and is seen as an opportunity for the firm to revert back years of sluggish car sales in China and improve the connection with the residents of the country by manufacturing all-electric Mustangs in locally established production factories.
The Ford Mustang sports cars that have been previously available for sale in China have high cost as they are being imported from other countries due to the lack of a locally stationed manufacturing plant by the firm. The prices are expected to drop after the construction of factories and the launch of electric Mustangs.
Ford was able to launch its initial completely made-in-China Lincoln vehicles in the month of March last year before their project for electric Mustangs in China, in the starting period of the coronavirus pandemic. But the American brand was unable to achieve a high-level status with the residents of the country in the Chinese automobile market as compared to their rival premium companies. The company is trying to recuperate with the launch of locally made electric Mustangs.
In the year 2019, the company launched an initiative named Ford China 2.0, which was a strategy that assured to provide more products that would be specifically tailored to suit the taste of the local population. The launch of electric Mustangs in China has also been done by keeping the strategy in mind.
Luxury electric car
The electric vehicle manufacturer Faraday Future has been provided with a massive amount of cash influx from the Chinese automobile maker Geely accompanied by other state-owned firms. The Faraday Future is a California-based firm and was founded by the failed Chinese tycoon. The company has been touted as the next Tesla on several occasions.
It has been reported that more than $1 billion have been invested in the car-making company by 30 investing parties, which are from Europe, the United States, and China. The list of shares bought by each investor will be provided to the public soon.
This joint venture will be used for the funding for the manufacturing of the FF91, which is a luxury electric vehicle and has been originally unveiled to the public in the year 2017. The founder of the company Jia Yueting has stepped down and has filed for personal bankruptcy in the year 2019.