Ford and its partners plan a US$58 million investment in their Chinese joint venture to fund future expansion, the Chinese company said in a statement last Friday.
The move, approved by the state government, will help Chang'an Ford Mazda Motor Corp, a three-party local venture between Ford, Japan's Mazda Motor Corp and China's Chang'an Automotive Group, to boost its registered capital to US$351.44 million.
Ford Motor China, along with a Ford's Asia Pacific affiliate, will invest a combined US$20.3 million in the venture while Chang'an Auto, the nation's fourth largest auto maker, will put in US$29 million yuan. Mazda, of which Ford owns a third, will invest US$8.7 million.
Shareholding structure will remain unchanged with Chang'an Auto to own 50 percent, leaving 35 percent for Ford and 15 percent for Mazda, the statement added.
Chang'an Ford Mazda's sales rose 60 percent to a record high of 217,100 vehicles last year, following a doubling of sales in 2006 and four percent market share.
Strong sales of the Ford Focus and a series of new products, including the S-MAX sports utility vehicle and the Mondeo, helped Chang'an Ford Mazda to be among the top 10 best-selling car makers in China.
The car maker opened a 160,000-unit production facility last September, making small cars for both Ford and Mazda.
Ford can now make more than 410,000 vehicles in China when at full capacity.