The restructuring plan for Changan Ford Mazda Automobile (CFMA) has received final approval from the Chinese government.
CFMA, a joint venture between Mazda, Changan Automobile (Changan) and Ford will be restructured into two separate joint ventures, Changan Mazda Automobile (Changan Mazda) and Changan Ford Automobile.
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Changan Mazda, a 50:50 joint venture, has been incorporated in Nanjing and will assume all of CFMA’s Mazda-related business, including vehicle development, manufacturing, marketing and sales in China.
Local Mazda president and CEO Takashi Yamanouchi said: “The new company will establish a research and development centre with the aim to provide high-quality products that fulfil the needs of Chinese customers. We are also advancing our plan to produce the CX-5.”
