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Joint Venture of Ford in Chongqing to Be Operational
Chang'an-Ford Automobile Co.,Ltd., a joint venture between the leading US auto maker Ford Motor Co. and the Chongqing Chang'an Automobile Co., Ltd., is to be operational in March next year.
With the construction of factory buildings close to completion, Chang'an-Ford in Chongqing Municipality, southwest China, will begin to produce family cars and parts at the end of the first quarter of next year, said company officials Thursday.
The two sides signed an agreement on the joint venture in April this year. The initial investment of Chang'an-Ford is 98 million U.S. dollars, half from Ford and half from Chang'an.
The joint venture will produce environmentally friendly cars priced at some 100,0000 yuan (about 12,000 U.S. dollars).
Wayne Booker, vice-president of Ford, paid a visit to Chongqing not long ago. He said he would keep a close eye on the joint venture and pay great attention to accelerate its development.
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