Changan Automobile Co., Ltd. (hereinafter referred to as "Changan Automobile"), Ford Motor Company (hereinafter referred to as "Ford"), Mazda Automobile Co., Ltd. (hereinafter referred to as "Mazda") Joint Statement: Sanfang's Chinese joint venture "Changan Ford Mazda Automobile Co., Ltd." The company's (hereinafter referred to as "Changan Ford Mazda") continued discrete restructuring plan has been approved by relevant government agencies.
From now on, Changan Ford Mazda will continue to be divided into two joint ventures.
Changan Ford Motor Co., Ltd., a surviving company in Chongqing, is funded by Changan Automobile and Ford in a 50:50 ratio and will undertake all Ford-related businesses of Changan Ford Mazda, including the development, manufacturing, sales and service of the Ford brand.
Changan Mazda Automobile Co., Ltd., a newly established company in Nanjing, is funded by Changan Automobile and Mazda in a 50:50 ratio and will undertake all Mazda-related businesses of Changan Ford Mazda, including the development, manufacturing, sales and service of the Mazda brand.
In order to continuously explore various opportunities in the strategic and operational aspects of the joint venture, and seek to maximize the optimization of its business structure and operations to better meet the needs of the Chinese market, the tripartite partners previously submitted Changan to relevant local and central government agencies. Ford Mazda's restructuring plan. The parties have reached a consensus that they will continue to maintain strategic cooperation after the completion of the restructuring. In the future, all parties will continue to cooperate for a long time in areas where major joint ventures and technology information exchanges can form a win-win situation.
Changan Automobile Co., Ltd.
Ford Motor (China) Co., Ltd.
Mazda (China) Management Co., Ltd.
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