Changan Mazda Ford to construct gearbox factory in Chongqing

Gasgoo.com (Shanghai May 21) - Changan Ford Mazda signed a memorandum with the authorities of Chongqing's New North Zone to construct a factory producing automobile transmission parts, the Chongqing Evening News reported earlier this week. Huang Qifan, mayor of the city, as well as others joined the signing ceremony, which will help secure the joint venture's position in the industry.

Changan Mazda Ford will invest $350 million in the site, which is set to begin operation in late August of this year. Construction is planned to be completed in 2013, and will be able to produce up to 400,000 transmission systems after preliminary construction is completed.

Mr. Huang confirmed that with the construction of the factory, which marks a decade of cooperation between Chongqing Ford Mazda and the city of Chongqing, the JV would finally be able to manufacture vehicles entirely in the city. "[The investment] is proof of Changan's faith and resolve in Chongqing and the Chinese market as a whole," Mr. Huang said.