Feb 21st, 2008 by RJ Menezes
Asia is the fastest growing market for automobile makers. Ford wants to dominate by setting up show early. The blue oval folks are again investing heavy dollars in China.
This will start with a $58 million dollar investment from Ford and it’s local partners. The goal here is to create a joint venture that would promote future expansion. The move has been approved by the state government and 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 according to Ford.
Ford Motor China will invest $20.3 million while Chang’an Auto will put in $29 million into the new venture. Mazda on the other hand, will invest $8.7 million. Amongst all this news it’s the investors that are relived as the shareholding structure will remain unchanged. This leaves Chang’an Auto still owning 50 percent, while Ford has 35 percent and Mazda 15 percent.
Amongst all this new and exciting progress happening over on that side of the road, this side of the pond still gets little attention. Let’s not forget our roots Ford. There is still a lot of work left here in the states.
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