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Ford, Mazda form venture with Changan Auto
[ 2005-04-21 08:33:37] |
Ford and Mazda announced yesterday they have teamed up with Chongqing-based Changan Automotive to launch a car manufacturing joint venture in Nanjing, capital of East China's Jiangsu Province.
The joint venture, Changan Ford Automobile Corp Ltd Nanjing Company, will be developed in two phases. When the first phase is completed by 2007, the joint venture will have an annual production capacity of 160,000 cars.
Meanwhile, the three partners also signed an agreement to set up a joint engine plant.
The engine project, named Changan Ford Mazda Engine Company Ltd, is scheduled to be operational by early 2007 and have a capacity of 350,000 engines annually.
"This Nanjing project is key to our expansion plans in China," said Mark Schulz, Ford Motor Company's executive vice-president, and president of Asia Pacific and Africa.
"We are very pleased to sign the three-way agreement for a second production facility in Nanjing," said Yin Jiaxu, chairman and president of Changan Automotive Group, at the signing ceremony.
"With the new engine joint venture and the Changan Ford Nanjing Company vehicle assembly facility, we will be creating more quality jobs in the city, and expanding Ford and Mazda products offered to Chinese consumers.
"This is a critical step forward for the three-way partnership, as we work together to develop the manufacturing capability in Nanjing jointly, and to deliver more quality products to our customers around the country."
Hisakazu Imaki, Mazda president and chief executive officer added: "There are two elements that will be key to the success of the two projects in Nanjing. The first is to build world class facilities and the second is to combine the unique strengthens of Ford, Chang'an and Mazda."
(China Daily) |
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