As deals go, this one makes sense in every way – electric cars and the world’s biggest auto market. Ford today signed a memorandum of understanding (MoU) with Chinese automaker Anhui Zotye Automobile Co to explore the establishment of a joint venture that will build electric vehicles in China.

The Detroit carmaker said in a e-mailed statement that the vehicles produced would be sold under a brand owned by the new JV, in which both companies will hold a 50-50 stake, Reuters reports.

Zotye, a privately owned company based in Zhejiang province, is described by Ford as the market leader in China’s fully electric small car segment, although it might be more famous outside of China for its Porsche Macan clone. It sold more than 16,000 EVs this year until July, which is a 56% year-on-year growth. With a new CEO in place, Ford is expected to make a big push in the EV market.