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China is pushing for new energy vehicles and loosening restrictions on new joint ventures with foreign automakers to get them done. Vokswagen recently had a joint venture approved.

"The vehicles produced will leverage knowledge from both companies, said Stephanie Brinley, senior analyst at IHS Markit. "While Ford has announced it will import the next-generation Ford Focus from China, the intent for this new JV is to supply vehicles for the Chinese market."

She added that Ford can accelerate its understanding of electric vehicles through the joint venture and learn lessons that might apply elsewhere.