JMC, Ford Motor’s photovoltaic joint venture registered at the end of December.
Shanghai (Gasgou) – The passenger vehicle (PV) joint venture between Jiangling Motors Co., Ltd. (JMC) and Ford Motor was officially incorporated on December 27, which means that both parents decide to cement their cooperation in the field of PV.
Ford Everest; photo credit: JMC
According to the Tianyancha Business Information Platform, the new joint venture, named Jiangling Ford Motor Technology (Shanghai) Co., Ltd., involves registered capital of 200 million yuan ($ 31.394 million) and is owned at 51/49 by JMC and Ford Motor. respectively. It is permitted to operate businesses such as the sale of petroleum-powered vehicles, new energy vehicles, auto parts, dedicated PHEV engines, recharging batteries, centralized rapid recharging stations, fueling installations. ‘exchange of batteries and installations for NEV production tests.
JMC announced three months ago its intention to create a joint venture with Ford Motor. Located in Shanghai, the new entity would focus on the distribution of complete Ford brand vehicles manufactured by JMC. The service can also be offered as a dealership or as a direct sales model.
In November, the JMC-Ford Motor PV joint venture showcased five Ford-branded models at Auto Guangzhou 2021, debuting at an auto show with an independent booth.
Xiang Dongping, vice president of JMC, said that for the good development of the new joint venture, JMC and Ford Motor will strengthen the collaboration in the SUV segment in China and the capacity of sales channels.
Tianyancha data shows that Ford Motor currently owns 32% of JMC’s capital, compared to the 30% that the US automaker initially controlled when it was introduced by JMC in 1997 as a strategic investor. Prior to the launch of the Everest SUV, the first Ford-branded photovoltaic model manufactured by JMC’s facilities, in 2015, the two-party partnership had focused only on the commercial vehicle business for 18 years.