Ford Mazda JV

Ford and Mazda both plan to set up their own separate joint ventures with Changan, a move which will give the automakers more leeway to design their own China strategies, the sources with direct knowledge of the scheme told Reuters.

Ford is set to own half of its new two-way venture with Changan, the sources said, while the Mazda-Changan tie-up will probably also be a 50-50 JV.

Ford’s new JV with Changan will be based in Chongqing, while Mazda’s venture will be based in Nanjing, said one of the sources.

Mazda’s ties with Ford have weakened since the U.S. automaker reduced its controlling one-third stake in Mazda to 13 percent in 2008 to free up cash. Ford currently owns about 11 percent of Mazda, Japan’s No.5 automaker.

Ford, which broke ground for its $490 million third China plant in September last year, owns a 35 percent stake in the venture, with Changan holding 50 percent.

Source : Konaxis

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