Shanghai. February 15 (Gasgoo.com) – China's fourth largest automaker group Changan Auto Group has decided to pump additional $29 million into its subsidiary Changan Ford Mazda, the Shenzhen-listed company said in an announcement yesterday.
The registration capital of Changan Ford Mazda will be increased to $35.14 million from $29.34 million, the announcement said.
After the new investment, Changan Auto Group's total investment in Changan Ford Mazda will reach $175.72 million, which represents 50 percent of the joint venture's total investment.
Ford Asia has invested $86.10 million in the joint venture. After Changan Auto's new investment, Ford Asia's stake in the joint venture will drop to 24.5 percent; Ford China, with a total investment of $36.90 million investments in the joint venture, will have a 10.5 percent stake; Mazda Motor will hold the remainder 15 percent stakes.
In 2007, Changan Ford Mazda sold 217,848 vehicles in China, an increase of 60 percent from one year earlier.