A distribution joint venture in China between Mazda Motor Corp. and First Auto Works and its subsidiary, FAW Car Co., has been given the green light by the Chinese central government after two years of preparation. The JV, FAW Mazda Motor Sales Co. Ltd., will distribute Mazda-brand vehicles in China beginning in March, says Mazda. The JV will be headquartered in FAW’s home city of Changchun and be capitalized at RMB100 million ($12.1 million). FAW Car Co. will hold 70% of the JV, with ...
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