Ford and its Chinese partner Jiangling Motors Corporation (JMC) have announced the establishment of a new joint venture that will build vehicles for Ford’s passenger vehicle business in China.
The new JV – called Jiangling Ford Automobile Technology (Shanghai) Co., Ltd – is a Ford/JMC 49:51 split JV. Ford and JMC are long-time partners in China, with JMC making vehicles in China for Ford. Ford has a stake of 32% in JMC.
Ford said the new joint venture further strengthens collaboration between Ford and JMC as progress is made to accelerate implementation of Ford’s China 2.0 business transformation plan.
JMC Ford Technology will integrate both partners’ resources and upgrade the existing distribution channel to offer customers in China a line-up of Ford brand passenger vehicles manufactured by JMC.
Ford said operation efficiencies will enable both partners to leverage each other’s competencies to grow in the Chinese market and more effectively meet customer needs.
JMC Ford Technology will offer customers a product portfolio of passenger vehicles including the Ford Equator Sport, whose order bank was opened in early January. Ford said the Equator Sport’s ‘youthful design targets a new generation of Chinese customers and is equipped with Ford Co-Pilot 360 advanced drive assist system’. Tencent’s TAI 3.0 IVI system, high-accuracy AR real-world navigation, FordPass and over-the-air software update capability are part of Equator Sport’s intelligent suite to bring an ‘always-on experience to customers’.
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Equator Sport joins Ford Territory, Equator, Everest and Tourneo in JMC Ford Technology’s passenger vehicle lineup that is offered via the Ford Family Space sales channel, a network of 181 showrooms in major Chinese metropolitan markets.