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Ford Invests More in China
CHONGQING, China — Ford and its local partners plan a $58 million investment in their Chinese joint venture to fund future expansion.
The move, approved by the state government, will help Chang'an Ford Mazda, a three-way venture involving Ford and its Japanese affiliate Mazda and China's Chang'an Automotive Group, to boost its registered capital to more than $350 million.
Ford Motor China will invest $20.3 million in the venture, while Chang'an Auto, the nation's fourth-largest automaker, will put in $29 million. Mazda will invest $8.7 million. The shareholding structure will remain unchanged, with Chang'an Auto owning 50 percent, Ford 35 percent and Mazda 15 percent.
Chang'an Ford Mazda's sales last year rose 60 percent to a record 217,100 vehicles. Strong sales of the Ford Focus and a series of new products, including the S-Max crossover vehicle and the Mondeo sedan, helped Chang'an Ford Mazda to be among the top 10 best-selling carmakers in China.
The joint venture opened a 160,000-unit production facility last September, making small cars for both Ford and Mazda. Ford can now make more than 410,000 vehicles in China at full capacity.
What this means to you: Ford still trails GM by a substantial margin in China, in terms of sales and production capacity. — Vivian Jin, Correspondent
The move, approved by the state government, will help Chang'an Ford Mazda, a three-way venture involving Ford and its Japanese affiliate Mazda and China's Chang'an Automotive Group, to boost its registered capital to more than $350 million.
Ford Motor China will invest $20.3 million in the venture, while Chang'an Auto, the nation's fourth-largest automaker, will put in $29 million. Mazda will invest $8.7 million. The shareholding structure will remain unchanged, with Chang'an Auto owning 50 percent, Ford 35 percent and Mazda 15 percent.
Chang'an Ford Mazda's sales last year rose 60 percent to a record 217,100 vehicles. Strong sales of the Ford Focus and a series of new products, including the S-Max crossover vehicle and the Mondeo sedan, helped Chang'an Ford Mazda to be among the top 10 best-selling carmakers in China.
The joint venture opened a 160,000-unit production facility last September, making small cars for both Ford and Mazda. Ford can now make more than 410,000 vehicles in China at full capacity.
What this means to you: Ford still trails GM by a substantial margin in China, in terms of sales and production capacity. — Vivian Jin, Correspondent
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