Ford and partners to put more money in China

Ford Motor and its partners plan to invest an additional $58 million in their China car venture to help fund its expansion, Chinese partner Changan Automobile Co said on Thursday. The number two US automaker will invest $20.3 million in Changan Ford Mazda, a three-way tie-up with Mazda Motor Corp and Changan Auto, the Chinese company said in a statement.

Mazda, of which Ford owns a third, will invest $8.7 million in the venture, while Changan Auto will put in $29 million. The move, which already has the approval of the commerce ministry, will boost the venture's registered capital to $351.44 million from the previous $293.44 million, but keep its current shareholding structure unchanged, it said. Changan Auto owns 50 percent of the venture, with Ford and Mazda sharing the rest.