Ford’s joint-venture with Mazda and Chongqing Changan Automobile is drawing to a close in China, with final government approval green-lighting the breakup expected shortly, a top Ford executive says. The U.S. auto maker currently controls 35% of Changan Ford Mazda, while Changan holds 50% and Mazda has 15%. Once the split is approved, Ford plans to take a 50% stake in a new JV with Changan, dependent on the government’s nod, says Joe Hinrichs, president of Ford Asia-Pacific and Africa. ...
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