Ford Electric Mach will continue operations, denies termination plans

Ford plans to integrate the electric horse team into Ford China and is considering canceling the registration of Ford Electric Mach Company. The news was released on June 9. Ford responded today by saying it has no plans to end Ford Electric Mach operations.

#In April 2020, Ford Electric Mach Technology Company was established with a registered capital of US$665 million (approximately 4.735 billion yuan). The company is jointly held by Ford Technology (China) Holding Company and Nanjing Jiangning Economic Development Co., Ltd., with a ratio of 81.2% and 18.8%. Ford Electric Mach Technology launched its business in September last year with the aim of promoting Ford's development in China's electric vehicle field and advancing the electrification transformation. However, due to low sales of the Ford Electric Horse, the company fell into profit and loss difficulties.

Public information shows that the Ford Electric Horse’s sales peak in the past year occurred in December 2022, with 1,535 units sold. The cumulative sales of the Ford Electric Horse in the first four months were 702 units, ranking 247th in the SUV sales rankings.

Ford plans to adjust its organizational structure and integrate about 2,000 employees into Ford China to cope with the challenge of weak sales. However, Ford stressed that it has no plans to terminate Ford Electric Mach's operations. Ford will still invest in promoting the development of its electric vehicle business and launch more electric models in the Chinese market.

Currently, Ford Electric Mach Company is still operating, and further changes in the future still need to be observed. Ford will make unremitting efforts to improve the performance of its electric vehicles in the Chinese sales market to cope with increasingly fierce competition.

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