We had been reporting for quite a while that estranged Ford and Mazda had filed for divorce that would annul their three-way ménage with China’s Changan. If you’ve ever been through a divorce (don’t remind me) you know that that can take a while and can drive you bonkers. Time for a celebration:
Ford Motor and its China venture partners, Mazda M and Chongqing Changan, have received government approval to end their three-way marriage, the China’s 21st Century Business Herald reports via Gasgoo.
As so often in a drawn-out divorce, both already have found new partners and will immediately re-marry. Except that it’s the same partner: Changan.
Ford and Mazda will each set up separate 50-50 joint ventures with Changan at the end of this year, the 21st Century Business Herald says. This surprises no-one.
Of course, all three involved parties deny any knowledge of anything
In the current JV, Ford holds 35 percent, Changan 50 per cent, and Mazda 15 percent.