Mazda Invests In Ford’s Chinese Venture
Tuesday, December 26th, 2006
The Chinese government has approved Mazda’s investment in Ford’s Chinese joint venture Changan Ford Automobile. Mazda has decided to take a 15% holding in the company, which is to going be renamed Changan Ford Mazda Automobile, and further moves to strengthen its hold are now expected. The deal will leave Ford with a 35% holding and Changan with the remaining 50%.
The three-way partnership bewtween Mazda, Ford and Changan has been developing fast over the past two years. The three parties are jointly building a brand new vehicle assembly plant in Nanjing, the second manufacturing base of CFMA, which is able to produce both Mazda and Ford brand cars. The operation of the Nanjing assembly plant is expected in 2007, with an initial annual capacity of 160,000 units.
The three parties are also expanding the capacity of the Chongqing plant, which now claims an annual capacity of 150,000 units, and will be further expanded to 200,000 units by May this year. Part of the expanded capacity in Chongqing is being used for the production of Mazda3. The joint venture is also constructing Changan Ford Mazda Engine which will be operational in 2007.
Tags: changan ford, changan ford mazda
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