Research Desk Line-up: SORL Auto Parts Post Earnings Coverage
LONDON, UK / ACCESSWIRE / August 24, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Ford Motor Co. (NYSE: F), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=F. The Company announced on August 22, 2017, that it has signed a Memorandum of Understanding (MoU) with Anhui Zotye Automobile Co., Ltd ("Zotye Auto"), a major manufacturer of zero-emission all-electric vehicles in China. The MoU is part of Ford's global plans of expanding its presence and market share in the electric vehicles segment. For immediate access to our complimentary reports, including today's coverage, register for free now at:
Discover more of our free reports coverage from other companies within the Auto Manufacturers - Major industry. Pro-TD has currently selected SORL Auto Parts, Inc. (NASDAQ: SORL) for due-diligence and potential coverage as the Company announced on August 14, 2017, its unaudited financial results for Q2 2017 and the first six months which ended on June 30, 2017. Tune in to our site to register for a free membership, and be among the early birds that get our report on SORL Auto Parts when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on F; also brushing on SORL. Go directly to your stock of interest and access today's free coverage at:
Commenting on the signing of the MoU with Zotye Auto, Peter Fleet, Ford Group's Vice President and President of Ford Asia/Pacific, said:
"The potential to launch a new line of all-electric vehicles in the world's largest auto market is an exciting next step for Ford in China. Electric vehicles will be a big part of the future in China and Ford wants to lead in delivering great solutions to customers."
Jin ZheYong, Chairman and President of Anhui Zotye Automobile Co., Ltd, added:
"The MoU between Zotye Auto and Ford opens the door for us to explore our cooperation in the development of clean energy vehicles. This presents us with an exciting opportunity to leverage each other's strengths in achieving a win-win situation for both parties' growth in the fast-evolving Chinese electric vehicle market."
Details of the MoU
The main purpose of the MoU is to explore the possibility of forming a 50:50 joint venture (JV) company with Zotye Auto. The JV company would be used for the development, production, marketing and servicing of a new line of all-electric passenger vehicles in China. Ford's signing of the MoU is in-line with the Company's vision for a more sustainable auto industry and its efforts to bring about change in the society by improving air quality and addressing climate change. The all-electric vehicles manufactured by the JV would be sold under a local brand owned by the JV. The JV aims to capture a major chunk of the all-electric passenger vehicle market in China. Both Companies plan to share further details of the JV including information on the brand, products, and production volumes at a later date, once a definitive agreement is in place and after receipt of all regulatory approvals.
The JV with Zotye Auto would add to Ford's existing JV's in China including Changan Ford and Jiangling Motors Corporation.
Zotye Auto, based in Huangshan, Anhui province of China, is a pioneer in the all-electric vehicle segment and was one of the first automobile manufacturers to produce all-electric passenger vehicles in China. Presently, it is a market leader in China's all-electric small vehicle segment and has already sold over 16,000 all-electric vehicles as on July 2017. This represents a year-on-year growth rate of 56%.
China is an important market for Ford and is also one of the fastest-growing markets in the world for new energy vehicles (NEVs). According to Ford, the market for NEVs in China is expected to grow to six million units per year by 2025. Out of these approximately 4 million vehicles are expected to be all-electric vehicles.
Ford's China electrification strategy
Once the JV with Zotye Auto is formed, it would give a major boost to Ford's ambitious China electrification strategy. In April 2017, Ford had revealed its China electrification strategy wherein it planned to address the growing demand for electric vehicles in China and offer a wide selection of electrified vehicles by 2025 which would include hybrids, plug-in hybrids, and fully battery-powered electric vehicles. Ford plans to launch Mondeo Energi, its first plug-in hybrid model in China in early 2018. Ford's Mondeo Energi would be manufactured by the Changan Ford JV.
By 2025, Ford expects that nearly 70% of its vehicle models will have electrified powertrain options, including the vehicle range produced by Changan Ford. Additionally, Ford plans to manufacture electrified powertrains in China by 2020.
Till date, Ford has invested over $4.5 billion globally for manufacturing electric vehicles as a part of its global electrification commitment. The Company plans to launch 13 new electrified vehicles globally within the next five years. The new electric vehicle models would include the all-electric small SUV to be sold in Asia, North America, and Europe.
Last Close Stock Review
At the close of trading session on Wednesday, August 23, 2017, Ford Motor's stock price rose slightly by 0.56% to end the day at $10.71. A total volume of 35.40 million shares were exchanged during the session. The Company's shares are trading at a PE ratio of 11.27 and have a dividend yield of 5.60%. At Wednesday's closing price, the stock's net capitalization stands at $42.86 billion.
Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email email@example.com. Rohit Tuli, a CFA® charter holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Phone number: (917) 341.4653
Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: Pro-Trader Daily