Mazda will command a 15-percent share in the company, which will in turn whittle Ford’s piece of the pie down from 50 percent to 35 percent. Changan will become the majority shareholder with the other 50 percent in its pocket.
Mazda has set a goal of selling 300,000 units in China by 2010. CFMA already operates one plant in Chongqing, which is being expanded to produce 200,000 units by next month. The company plans to initially produce the Mazda3 there. Another plant capable of producing 160,000 units is being built in Nanjing and will be operational by 2007.