Alibaba to cooperate with Ford Motor Group for new retail opportunities in China

Chinese e-commerce giant Alibaba announced on Thursday that it has signed an agreement with Ford Motor Group.

This will be a strategic cooperation to jointly explore connectivity, cloud computing and artificial intelligence.

The agreement will also involve the two companies exploring a “pilot study” for new retail opportunities.

See also:

Ford Motor Co and Mahindra & Mahindra Ltd sign new tech and strategy deal  

Alibaba partners with Auchan in new retail venture

Latest edition of Business Review Asia – out now!

This should include Ford selling card to Chinese consumers though Alibaba’s online retail arm, Tmall, as well as potentially through “vending machine” style stores.

Alibaba stated in a press release: “The agreement aims to explore new ways to redefine how consumers purchase and own vehicles, as well as how to leverage digital channels to identify new retail opportunities.”

Representatives from Ford including CEO Jim Hackett and Executive Chairman Bill Ford Jr will be in Hangzhou today along with Alibaba representatives to sign a letter of intent outlining the new partnership.

US-based automaker Ford is hoping to revive growth in China which has recently slowed, and is looking to Alibaba as the largest e-commerce firm in China to do so.

Alibaba has a “next retail” strategy which will involve creating a seamless offline and online buying experience and this may prove instrumental to car sales for Ford.

Share

Featured Articles

People Moves: Pine Labs, Deutsche Bank, McKinsey, Fortinet

Pine Labs names former Amazon exec as chief people officer, Fortinet hires government affairs leader for APAC, McKinsey India poaches Accenture HR exec

Dialight envisions a world of industrial safety with LEDs

Reliance on inefficient lighting technologies are not only harmful to the environment, but also increase injury risk and cost

Top 10: Must-see speakers at TECH LIVE LONDON 2022 event

Technology leaders from IBM, Oracle, Vodafone, JP Morgan, Accenture and the US Space Force are among the 80-plus speakers at upcoming TECH LIVE LONDON

Vodafone Business cyber leader Kawalec speaks at Cyber LIVE

Leadership & Strategy

Twitter timeline – how Musk pulled off a hostile takeover

Leadership & Strategy

Top 10 Asia restaurants, from Tokyo’s Den to Bangkok’s Sorn

Leadership & Strategy