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Ford Rises on Jiangling Motors China JV and E-Transit Orders -Breaking

by Mike Robinson

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Sam Boughedda

Investing.com — Ford Motor Company (NYSE:) shares are up 2% after it announced a joint venture in China with Jiangling Motors Corporation and that its E-Transit electric van has reached 10,000 orders in the United States.

Jiangling and Ford have formed a joint venture to help accelerate growth in China’s passenger car business. This will be done through the development of a distribution network. These moves strengthen the relationship between the two companies and accelerate the delivery of Ford’s China 2.0 business transformation plan.

JMC Ford Technology, which combines the respective partners’ resources, will upgrade the existing distribution channel so that customers in China can have strong Ford passenger vehicle lineups manufactured by JMC,” said the companies.

Ford feels that the increased efficiency of its operations allows it to concentrate on customer service and delivery of a wider product range, which includes the Ford Equator Sport.

Ford announced earlier in the session that its E-Transit electric vehicle has been ordered by approximately 300 government and commercial customers. This includes 1,100 orders from Walmart (NYSE).

 

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