Ford

Ford China announced that official reservations for the Mustang Mach-E are available immediately, with deliveries expected by the end of the year.

Tesla's new version of the Model Y, which was launched earlier this month and is eligible for China's state subsidies, has garnered the company plenty of orders, and now its US counterpart Ford Motor is following suit.

There have been rumors that Zhu Jiang, the head of Ford China's Mustang Mach-E program and a former Nio vice president, may leave the company, and now the news seems closer to confirmation.

The company also plans to further strengthen its Lincoln brand and fast-track its electric vehicle business.

Ford's smart, all-electric SUV Mustang Mach-E was launched in China on Tuesday and is available for pre-order, with a price range of 265,000 yuan ($40,480) to 379,000 yuan.

The car's rollout at the factory means it will soon begin mass production and go on sale, competing with the Tesla Model Y and Nio ES6.

Ford China has terminated its agreement with Chinese automaker Zotye to build a new energy joint venture, as it cannot be continued after significant changes in China's pure electric vehicle industry and related policies.

Ford China announced plans on January 28 to build the Mustang Mach-E in China, an SUV based on Ford's world's first high-performance all-electric platform that will be built at Changan Ford, its joint venture with Changan Automobile.

BYD will supply electric car batteries to U.S. automaker Ford Motor, according to a document on Monday from China's Ministry of Industry and Information Technology website.