Mazda Motor Corporation has purchased in full Ford Motor Company’s stake in Changan Ford Mazda Engine Co., Ltd. (located in Nanjing, China), a joint venture between the two companies and Chongqing Changan Automobile Co., Ltd. In line with the change to a 50:50 ownership structure (Mazda and Changan), the name has been changed to Changan Mazda Engine Co., Ltd.
Changan Ford Mazda Engine Co., Ltd. was established in September 2005 with Changan owning 50 percent of shares and Ford and Mazda 25 percent each. It began production of engines for Mazda cars in April 2007. After the name change, the plant will continue to produce Skyactiv-G 1.5-, 2.0- and 2.5-liter gasoline engines for supply to Changan Mazda Automobile Co., Ltd. (also in Nanjing), which produces the Mazda CX-8, Mazda CX-5 and Mazda3 (called Axela in Japan) for the Chinese market.
Through joint venture projects with partner Changan, Mazda aims to strengthen its business in China and contribute to the growth of the automotive industry. The company hopes to build a strong bond with Chinese customers by continuing to deliver attractive and high-quality vehicles that drive home the value of car ownership.
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SOURCE: Mazda
