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Ford formed its first passenger-vehicle joint venture in China in 2001, six years behind GM and more than a decade after VW. It has spent as of 2013 $4.9 billion to expand its lineup and double production capacity in China to 600,000 vehicles. This includes Ford's largest-ever factory complex in the southwestern city of Chongqing.
In 2013, Changan Ford opened a new engine plant in Chongqing with an investment of US$500 million. [4] Changan-Ford revealed the Jiayue sub-brand in May 2014. On 18 June 2014, Changan Ford opened its transmission plant in Chongqing with an investment of US$350 million. This is the first transmission plant for Ford in the Asia-Pacific region. [5]
In January 2022, Ford and JMC announced the establishment of Jiangling Ford Automobile Technology (Shanghai) Co., Ltd, a 49:51 joint venture to distribute Ford brand's passenger vehicle in China under Ford Beyond brand. Since Ford Motor Company holds a 32% stake in JMC, the controlling shareholder of the joint venture, after equity piercing ...
Apr. 13—Ford Motor Co. announced Tuesday it will sell vehicles directly to customers in China under the umbrella of a new, dedicated battery-electric vehicle organization. The move, in the world ...
Until 1993, JMCG's assets were owned directly by the state. That year, it was incorporated as a limited company , although still state-owned. [ 10 ] In September 2019, Jiangxi's State-owned Assets Supervision and Administration Committee announced it had included JMCG in a list of SOEs incorporating investors from the private sector by 2021, as ...
Gigafactory Shanghai (currently the only fully foreign owned car manufacturer in mainland China) BMW. BMW China (joint-venture with Brilliance Auto Group, a majority 75% stake was acquired by BMW in 2022) (Defunct) Zinoro (2013–2020) Volkswagen. Volkswagen Anhui (joint-venture with JAC, a majority 78.52% stake was acquired by Volkswagen in ...
Ford CEO Jim Farley is worried about competition from China’s electric vehicle makers. Chief among the threats is BYD—backed by Warren Buffett’s Berkshire Hathaway—which can produce ...
Ford CEO Jim Farley said in May that Chinese electric vehicle makers are its main rivals in the sector, and that Ford needs distinctive branding or lower costs to beat Chines