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Investing.com — Ford Motor Company (NYSE:F) 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.
The joint venture with Jiangling is to accelerate the growth of Ford’s passenger vehicle business in China offered through a distribution network. The moves also strengthen the partnership between the companies and speed up the delivery of Ford’s China 2.0 business transformation plan.
“JMC Ford Technology will integrate both partners’ resources and upgrade the existing distribution channel to offer customers in China a strong lineup of Ford brand passenger vehicles manufactured by JMC,” the companies said.
Ford believes the improved operation efficiencies boosts its sales channel to focus on the customer experience and the delivery of an expanded product line, including the newly-launched Ford Equator Sport.
Earlier in the session, Ford revealed its E-Transit electric van has reached 10,000 orders from approximately 300 commercial and government customers, including 1,100 from Walmart (NYSE:WMT).
