However, within this, the two companies also mentioned that they would be exploring new retail opportunities - something that is likely to see Ford begin selling its vehicles through the online sphere of Alibaba.
Ford Motor (F) sees a future where more cars could be sold online in China and plans to partner with e-commerce titan Alibaba (BABA) to test vehicle sales through its online retail platform, sources told Reuters.
The report says that Ford bigwigs, including Blue Oval executive chairman Bill Ford Jr. and CEO Jim Hackett, are expected to be in Hangzhou today to sign a letter of intent that outlines the scope of the new partnership.
A source also indicated that Alibaba may consider a "vending machine" style approach to selling cars.
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.
Back to Fords on Tmall, the model allows shoppers with good credit to purchase a auto with a 10% downpayment, and then make monthly payments via Alibaba's Alipay.
American Airlines Addresses Scheduling Nightmare
The APA, meanwhile, advised pilots not to sign on, saying that the airline's solution violated the union contract. If you're flying American Airlines over the holidays, you can breathe a sigh of relief.
The tie-up came just days after Ford announced plans to launch 50 models of new vehicles in China by 2025, including at least 15 electrified cars, and pledged to have all new Ford and Lincoln-branded vehicles in China to be internet-connected by the end of 2019.
"When online sales and direct sales volume was small that's one thing".
Speaking to Reuters, head of Shanghai-based consultancy Automotive Foresight, Yale Zhang, said it will hurt traditional dealers. "Retail innovation is great, but it is by its nature disruptive and can't keep everybody happy".
Should Ford choose to provide the cars directly to Alibaba, the deal could anger dealers who are losing out both on potential auto sales as well as the financing behind it.
Ford's China sales have been sluggish in recent months in part because it has failed to catch on to rapidly changing trends in the marketplace, including the rise of entry-level cars popular in smaller and lesser-known cities, where demand is booming.
In Mega Man 11 , the Blue Bomber will again be collecting power-ups, fighting bosses and traveling through some hard levels. Additionally, Mega Man Legacy Collection 1 and 2 will be coming to the Switch in 2018 with added amiibo support.
Starting tomorrow, Prime members in the USA can enjoy Thursday Night Football on the Apple TV app for iPhone, iPad and Apple TV. Apple TV users have always been demanding the app, but the unstable relationship between the two companies delayed the process.
Yet Voyager 1, NASA's furthest-travelled spacecraft, has just fired up a set of thrusters that haven't been used for 37 years. For this development, the Voyager team got together a group of propulsion experts in order to study the problem.
The Hand of God plucked the ball containing England's name from a pot during the draw staged inside Moscow's State Kremlin Palace. Southgate took charge of the Three Lions in September 2016 and has led the country to qualification for the 2018 World Cup .
I feel that you do not have all the facts about your situation and I know you do not have the facts about how we feel right now. A 17-year-old Florida high school soccer player has run away with a boy's soccer coach in Columbia County, authorities say.
Children who are registered with any other organization will not be eligible to receive toys through Toys For Tots . Toys for Tots is a 501 (c)(3) charity that can give a tax exempt letter for any space donated to the program.
The alleged misconduct happened before 2013, while Rubin was working with the employee in question in the Android department. The site reports that Rubin left Google after a woman made a complaint to HR detailing her relationship with the executive.
Yankees tab Aaron Boone as next manager
Boone has not been in uniform since retiring as a player eight years ago, but his hiring continues a trend around the majors. As manager of the Yankees, Boone will be under a microscope and very little will remain unknown about him starting today.