Ford, Changan, Mazda JV in China
4/19/05, 08:54 AM
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From money.cnn.com . . .
Ford, Changan, Mazda Sign Engine-Production JV In Nanjing
April 19, 2005: 2:01 a.m. EST
TOKYO -(Dow Jones)- Ford Motor Co. (F) said Tuesday it, Changan Automotive Group and Mazda Motor Corp. (7261.TO) have signed a joint venture contract to build a new engine plant in Nanjing in Jiangsu Province, China.
The engine-production joint venture is part of the car-production partnership among the U.S., Chinese and Japanese automakers.
The new engine plant, which is scheduled to be operational by early 2007, will supply engines to assembly facilities in China. The project is subject to government approval, the company said in a statement.
The new engine facility will have the capacity to produce 350,000 engines annually.
The Chinese government in January approved a joint venture manufacturing facility in Nanjing among Ford, Changan Automobile and Mazda. The new facility, Ford's third plant in China, is part of an agreement between the U.S. auto giant and Changan to expand investment in their 50:50 joint venture by up to $1.5 billion in the next few years.
-By Natsuo Nishio, Dow Jones Newswires; 813-5255-2929;natsuo.nishio@ dowjones.com
-Edited by Hugh Lawson
Ford, Changan, Mazda Sign Engine-Production JV In Nanjing
April 19, 2005: 2:01 a.m. EST
TOKYO -(Dow Jones)- Ford Motor Co. (F) said Tuesday it, Changan Automotive Group and Mazda Motor Corp. (7261.TO) have signed a joint venture contract to build a new engine plant in Nanjing in Jiangsu Province, China.
The engine-production joint venture is part of the car-production partnership among the U.S., Chinese and Japanese automakers.
The new engine plant, which is scheduled to be operational by early 2007, will supply engines to assembly facilities in China. The project is subject to government approval, the company said in a statement.
The new engine facility will have the capacity to produce 350,000 engines annually.
The Chinese government in January approved a joint venture manufacturing facility in Nanjing among Ford, Changan Automobile and Mazda. The new facility, Ford's third plant in China, is part of an agreement between the U.S. auto giant and Changan to expand investment in their 50:50 joint venture by up to $1.5 billion in the next few years.
-By Natsuo Nishio, Dow Jones Newswires; 813-5255-2929;natsuo.nishio@ dowjones.com
-Edited by Hugh Lawson
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