After several rounds of news that the spin-off was approved, Ford and Mazda finally achieved their respective single points in China. Last week, Changan Automobile, Ford Motor Co. and Mazda Motor Co., Ltd. issued a joint statement: The three-party joint venture “Changan Ford Mazda Automobile Co., Ltd.†under the tripartite division has been approved by relevant government agencies. Changan Ford Mazda will continue to be split into two joint ventures. Among them, the existing company in Chongqing, "Changan Ford Motor Co., Ltd." is invested by Changan Automobile and Ford at a ratio of 50:50 and will undertake all Ford-related businesses of Changan Ford Mazda, including the development, manufacture, sales, and service of the Ford brand. . The newly established company in Changan, "Changan Mazda Automobile Co., Ltd." will be funded by Changan Automobile and Mazda at a ratio of 50:50 and will assume all Mazda-related businesses of Changan Ford Mazda, including the development, manufacture, sales and service of the Mazda brand.
The statement also stated that the parties have reached a consensus and will continue to maintain strategic cooperation relationships after the reorganization is completed. In the future, all parties will continue to cooperate for a long time in areas where the major joint ventures and technological information exchanges can form a win-win situation.
The three-party Changan Ford Mazda was first established in 2001. Ford Motor Co. and Changan Automobile Co., Ltd. established the Changan Ford joint venture, which was officially put into production in early 2003. In March 2006, Mazda took Changan Ford, and the company officially changed its name to Changan Ford Mazda. The three parties hold 50% of Changan, 35% of Ford, and 15% of Mazda.
With the Chinese automobile market entering an outbreak period, Changan Ford Mazda has been slow to develop due to excessive restraints and other reasons. Ford Motor Co.'s shareholding reduction of Mazda Motor has provided an opportunity for the two companies to form joint ventures in China. However, the spin-off process can be described as twists and turns. From 2010, Mazda Motor Corporation president and CEO Yamanou Yazai acknowledged for the first time that Mazda will be separated from Changan Ford Mazda and it has finally been split and approved, and it has experienced numerous disturbances. Today, the split is successful. Both Ford and Mazda will accelerate their development in China. Ford will go all out to implement its "1515" plan. Mazda will also accelerate the introduction of new models and domestic production.
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