US auto giant Ford said it is seeking Chinese Government approval for a joint venture with Chang’an Automobile Corp., reports Xinhua News Agency (18/12/00) citing China Daily reports.
Quoting Ford Vice President Vaughn Koshkarian, China Daily says that the documents for primary approval have already been filed with the Chinese government, although Ford is still working on the final details of the project with Chang’an, based in Southwest China’s Chongqing Municipality.
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According to Mr Koshkarian, Ford has not decided on what type of vehicles are to be introduced into China via this venture, but a family car – priced around 100,000 yuan ($US12,000) – is reported to be one of the top priorities.
General Motors – having already set up a $US 1.5 billion joint venture in Shanghai – is rumoured to be competing with Ford for the Chang’an project.
