Ford China joint venture acquires factory in $1.1 billion deal

April 2, 2015 1:43 PM

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Ford China joint venture acquires factory in $1.1 billion deal

BEIJING (Reuters) - Ford Motor Co's (F.N) joint venture with Chongqing Changan Automobile Co Ltd (000625.SZ) will takeover and upgrade a factory in northeast China in a 6.6 billion yuan ($1.1 billion) deal, a company spokeswoman said.

The factory will increase Changan Ford's production in China by 200,000 vehicles annually to help meet the country's growing demand for passenger vehicles.

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