Changan Ford Mazda break-up details to be finalized by end of year
Gasgoo.com (Shanghai May 5) - The details of Changan Ford Mazda's split will be made public within the year, the Chongqing Evening News reported today. Changan Ford Mazda made the decision to split into two individual joint ventures last year, with the Mazda portion which will be moving its resources to Nanjing.
Xu Liuping, chairman of Changan Automobile, confirmed the break-up at the recently held Auto Shanghai 2011, which is still awaiting final decision from the National Development and Reform Commission. Ford and Mazda will each be inheriting a 50 percent part of the current joint venture.
After the break-up is finalized, Changan Mazda will begin investment in its first model as an independent JV, the Mazda CX-5 SUV (pictured).
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