Ford Raises Stake in China’s Jiangling Motors

Ford Motor Co. has purchased 13 million shares of Chinese partner Jiangling Motors Corp. over the past three months, thus boosting its stake to 31.5% from 30%.

Ford says it aims to increase its holding over the next nine months to as much as 32%, the maximum allowed by Chinese securities regulators.

The U.S. automaker acquired a 20% stake the Jiangxi Province-based truckmaker in 1995 when they formed their joint venture. Ford increased its holding to 30% in 1998.

Ford and Jiangling produce light commercial vehicles and SUVs, including the Ford Transit van. They entered the heavy-duty truck business with an agreement last August to acquire Taiyuan Changan Heavy Truck Co.

The venture boosted sales 3% to 200,000 vehicles in 2012 and 7% to 56,400 units in the first quarter of this year. The partners plan to open a new $300 million commercial vehicle assembly plant in Nanchang this year, which will make Ford and Jiangling brand models.