Ford Completes Additional 2 Percent Purchase Of China’s JMC0
In late 2013, Ford Motor Company completed the purchase of an additional two percent stake in Jiangling Motors Corporation (JMC) — The Blue Oval’s commercial vehicle partner in China. Ford’s purchase brings its ownership in JMC (which sounds eerily similar to GM’s GMC) to 32 percent, and demonstrates “its strong commitment” to the Chinese firm. Financial details of the transaction were not disclosed.
Ford and JMC’s joint venture was established in 1997, and focuses on commercial vehicles in China. Coincidentally, JMC also has a joint venture with Changan — another one of Ford’s partners in China. This joint venture sells passenger cars under the Landwind brand.