Ford betting &#039extremely seriously&#039 China will dominate the electrical automobile market

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Ford thinks China is poised to come to be the most favorable industry for the advancement and sale of electric automobiles, according to the U.S. car giant’s govt chairman.

“I do imagine electric powered cars make sense. For a whole lot of factors it’s a great way to go all around the earth and so I am a massive believer in it … We are betting incredibly seriously in it,” Monthly bill Ford, executive chairman at Ford Motor Company, explained to CNBC Wednesday.

Speaking on the sidelines of Fortune’s Brainstorm Tech Worldwide convention in Guangzhou, China, Ford reported, “The complete Ford nameplate will be electrified by 2025 here.”

Ford not long ago declared a $756 million joint enterprise with Chinese vehicle firm Zotye Car to make and provide electrical autos in Beijing. The U.S. car corporation plans to have at the very least 15 styles prepared by 2025.

Ford’s investment decision joins the like of Standard Motors, Daimler and Volkswagen as major manufacturers significantly glance to create an aggressive electric powered car or truck approach in the world’s second-most significant economy.