Shanghai Securities News China Securities Network News (reporter Yu Liyan) Jiangling Motors Co., Ltd. and Ford Motor Company jointly funded the establishment of Jiangling Ford Automobile Technology (Shanghai) Co., Ltd. was officially established on January 26, the head of the new company said that it will open a new chapter in the Jiangling Ford Technology passenger car strategy with a "challenger" attitude.
The new joint venture has a registered capital of 200 million yuan, of which Jiangling Motors invested 102 million yuan, holding 51% of the shares, and Ford Motor contributed 0.98 billion yuan, holding 49% of the shares. According to the agreement between the two parties, the new joint venture is a new initiative of Ford Motor and Jiangling Motors in the passenger car business based on the common strategic goals, and will be committed to accelerating the expansion of the passenger car business, accelerating the improvement of channel capabilities, and promoting the innovation and upgrading of user experience.
Relevant people from Jiangling Ford pointed out that the establishment of Jiangling Ford Technology is a further upgrade of the cooperation between Ford Motor and Jiangling Motors, which will accelerate the implementation of Ford China 2.0 strategy. The new joint venture will make full use of Ford's global advantages and resources, meet the needs of the Chinese market, deepen the integration and mutual promotion of Ford Motor and Jiangling Motors in technology, products, marketing, services and other aspects, and launch more specialized and differentiated products suitable for the Chinese market to better meet the needs of young Chinese consumers and promote them to the world from China as the base point.
According to the latest data, since 2021, Jiangling Ford passenger cars have achieved a sales growth rate of nearly 30% month-on-month in four quarters; Ford Territory's export volume in 2021 increased by 106% compared with the previous year, which was recognized by consumers in overseas markets and began to achieve a new pattern of "in China, for China, and for the world".
According to the cooperation plan between the two parties, in the face of the new consumer environment in the Chinese market, the role of Jiangling Ford Technology is positioned as a "challenger", and it will continue to increase the competitiveness and development of Jiangling Ford Technology through professional SUV products, differentiated experience upgrades, personalized user exploration and a young new Ford posture, and bring a new generation of young consumers with Ford's product family lineup and innovative technology experience.
"Jiangling Ford Technology will strengthen the belief of challengers and become the vanguard of the Ford brand to challenge itself and subvert itself with the spirit of 'pioneering innovation'." Xiang Dongping, president of Jiangling Ford Automotive Technology, said that as the first joint venture automobile technology company emerging in China's automotive industry in 2022, Jiangling Ford Technology will make full use of superior resources to deeply sharpen the new user image under the new car consumption ecology, use intelligent technology to bring users a better service experience, continue to consolidate user experience upgrades and user value advancement, promote the continuous upward trend of Ford's brand reputation, and help Ford China 2.0 strategy achieve further success.
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