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Alibaba, Ford to cooperate in search for new retail opportunities

BEIJING/SHANGHAI (Reuters) – Alibaba Group Holding Ltd (BABA.N) has signed a deal with Ford Motor Co (F.N) to discover cooperation in spaces an equivalent to cloud computing, connectivity and retail which would possibly come with the sale of Ford vehicles on Alibaba’s on-line retail platform Tmall.

FILE PHOTO: The Ford Motor Company emblem is pictured on the Los Angeles Auto Show in Los Angeles, California, U.S., November 30, 2017. REUTERS/Mike Blake/File Photo

Alibaba in a statement on Thursday discussed virtual marketing-focused Alimama and working gadget company AliOS can be amongst subsidiaries operating with Ford beneath the three-year settlement.

One facet highway into consideration is the sale of Ford vehicles on Tmall, an Alibaba spokeswoman discussed. Reuters on Wednesday reported that Ford used to be once making plans to signal this sort of deal because it overhauls its China means to stimulate expansion.

“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,” Alibaba discussed in its statement.

The Chinese e-commerce company and U.S. automaker will to get started with “explore a pilot study” for new retail opportunities, Alibaba discussed.

Ford President and Chief Executive Officer Jim Hackett in the statement discussed participating with era corporations builds on its imaginative and prescient to make “smart vehicles”.

Ford’s China gross sales were slow in recent months because it struggles to stay tempo with all of a sudden converting inclinations, together with higher title for for entry-level vehicles in smaller towns.

Meanwhile Alibaba is expanding its presence in the automobile sector with Banma Technologies, a partnership with SAIC Motor Corp Ltd (600104.SS) rising Internet-connected vehicles.

Reporting by way of Beijing Monitoring Desk and Brenda Goh in SHANGHAI; Additional Reporting by way of Norihiko Shirouzu; Editing by way of Sherry Jacob-Phillips and Christopher Cushing

Our Standards:The Thomson Reuters Trust Principles.

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