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Ford, Mazda and ChangAn to invest £29 million
By Yoann Besnard on 21 February 2008 | 
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Ford has announced it will invest £29 million in China with the help of Mazda and ChangAn to boost sales on the Chinese domestic market.
The investment will boost the joint venture’s registered capital to more than £175 million. Ford will provide £10 million, ChangAn £14 million and Mazda £5 million. As usual in China, the Chinese partner holds 50 percent of the joint venture. Fold and Mazda holds 35 percent and 35 percent respectively.
Chang'an Ford Mazda's sales rose by 60% to 271,100 vehicles last year. After opening a new factory in last September, the three-way joint venture production capacity jumped to 410,000 units. Despite the recorded growth in 2007, Ford is far behind other carmakers. The carmaker's rivals broke into the market earlier and have already established their brands among China's growing consumer class.
Ford's Focus compact became one of the 10 best-selling cars in China last year, but the company's profit margins were slimmer than some of its competitors' because many of the parts used to build the Focus are still made outside China.