Changan Ford Motor to set up electric car JV with Chongqing Changan Auto

Changan Ford Motor plans to set up a new-energy passenger car joint venture with state-owned Chongqing Changan Automobile , according to a document published by China's market regulator on Friday.

Workers assemble vehicles at a plant of Changan Ford, a joint venture between Changan Automobile and Ford Motor Company, in Harbin, Heilongjiang province, China February 22, 2017. REUTERS/Stringer/File Photo

In the future, the joint venture plans to engage in the "supply business of mainstream brand new energy passenger vehicles and the distribution business of Ford brand models that Changan Ford has invested in," the statement said. Ford said in a later statement that the new venture also will sell existing Ford-brand gas-powered vehicles.

A spokesman did not immediately respond to a question about whether this new venture means Ford is minimizing its exposure in China. The company said further details would be provided later.

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