Ford eyes China plug-in market

Ford Motor Co (F.NYSE) said it may begin making electric cars in China with partner Changan Automobile Group (000625.SZ, 200625.SZ), less than a week after rival General Motors (GM.NYSE) signed an agreement to develop fuel-efficient cars with SAIC (600104.SH), Bloomberg reported. “As we move to more electrification you’re going to see more hybrids, plug-in hybrids and all-electric,” said Ford CEO Alan Mulally. GM plans to introduce its plug-in hybrid, the Chevy Volt, to China in the fourth quarter, in keeping with Beijing’s target of having 1 million electric-powered vehicles on the road by 2015. GM Vice Chairman Steve Girsky said the company would not give SAIC or the Chinese government intellectual property for the Volt as part of the agreement. Meanwhile, Ford has committed US$1.6 billion to build four factories in China and plans to triple its current lineup by offering 15 models by mid-decade. It controls 2.7% of China’s passenger vehicle market, compared with 10% for GM.