Ford restructuring sheds Mazda
China Daily | Updated: 2012-09-03 08:06
Last week Ford announced that its plan to restructure its three-way joint venture Chang'an Ford Mazda Automobile Co was recently approved by the National Development and Reform Commission.
According to the plan, the current joint venture - held 35 percent by Ford, 15 percent by Mazda and 50 percent by Chang'an Automobile Group - will split with each foreign carmakers forming a new 50-50 joint ventures with Chang'an separately.
Media reports said that the new joint venture between Ford and Chang'an will keep the Chongqing plants of the former tie-up and the existing facilities in Nanjing will be left to Chang'an Mazda.
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