Ford and Alibaba Group have entered into an agreement to explore a strategic collaboration to jointly identify new opportunities to redefine consumer retail experiences and explore solutions for sustainable mobility. The ‘Letter of Intent’ was signed between the two companies at Alibaba’s headquarter in Hangzhou.
Under the three-year agreement, both companies will jointly explore areas of cooperation that are re-shaping the automotive industry in China and around the world. Ford will cooperate with Alibaba’s four business units, namely AliOS, Alibaba Cloud, Alimama and Tmall – and jointly explore a variety of areas of cooperation including mobility services, connectivity, cloud computing, artificial intelligence and digital marketing.
In the initial phase, Ford and Alibaba will explore a pilot study on digital solutions for new retail opportunities at various stages of the automotive ownership cycle, from pre-sales and test drives to leasing options.
Alibaba will gain from Ford’s automotive leadership of running complex global operations, with more than 100 years legacy of developing, manufacturing and selling vehicles globally, and rich experience of providing trusted service through the established global dealer networks. Meanwhile, Ford can also leverage the wide spectrum of Alibaba’s resources including new retail services, Internet of Things solutions, cloud computing and data technologies to transform vehicle ownership in the new retail era.