Ford Motor Company (NYSE:F) Focus On China Growth Plan

Would You Buy A Ford Car From A Giant Vending Machine In China?

According to the source, who did not want to be named because he is not authorised to speak with reporters, the deal is meant to position the Dearborn, Michigan, carmaker for an emerging Chinese marketplace where more cars could be sold online.

China is taking the lead in the electric vehicle market as there is a real government push to clear the air, Bill Ford, executive chairman at Ford Motor Company, said on Wednesday.

"Now is the time to deepen the partnerships we have with Changan and Jiangling Group and present one Ford brand in China", Fleet said.

Earlier this year, Alibaba's retail arm Tmall announced the development of a auto vending machine, in which consumers can use their phone to browse through cars stored in a tall windowed building and have the vehicle brought down to street level via elevator lifts.

Building on a decade of significant investments and growth, Ford has outlined the next phase of its China expansion strategy, focused on SUVs, electric and connected vehicles, a streamlined business structure and closer connections to Chinese customers.

Alibaba has previously said a score above 750 through its own credit scoring model called Sesame - can purchase the vehicle with a 10% down payment and a commitment to monthly payments through Alipay, according to Reuters.

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Alibaba says that consumers can use their phones to browse the cars in the garage, before choosing to either test drive it or buy immediately.

Hackett added that Ford's goal is to become the most trusted mobility firm of the world, designing smart cars for a smart world.

In October alone, 77,000 full electric vehicles were manufactured and an equal number of them were sold, up more than 76 percent and 95 percent respectively. "But if this format gained steam, it would definitely impact dealers", according to Yale Zhang, head of Shanghai-based consultancy Automotive Foresight.

"When online sales and direct sales volume was small that is one thing". The cars would then be maintained and repaired by these franchise locations. "Retail innovation is great, but is by its nature disruptive and can't keep everyone happy".

Online vehicle sales volumes are now small in China because buyers want to be able to see, touch and drive cars before buying, Zhang pointed out.

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