Changan Automobile Lists 40% Stake in Changan Ford New Energy for Transfer

[Company Update] Changan Automobile has listed its 40% equity stake in Changan Ford New Energy for transfer with a reserve price of RMB 154 million.

Core Development: Changan Exits Joint Venture as Electrification Collaboration Stalls

If the transaction is completed, Changan Automobile will no longer directly hold any equity in Changan Ford New Energy. The company was established in September 2023, with Changan Automobile and Changan Ford holding 40% and 60% stakes respectively, originally tasked with spearheading Ford's electrification transformation in China.

Key Metrics: Operations Halted, Sales Disappointing

Full-year revenue in 2025 reached RMB 913 million, with a net profit of RMB 527.5 million. However, revenue plummeted to -RMB 1.029 million in the first four months of 2026. The Mustang Mach-E model it operated sold only 35 units throughout the year, and the launch of its first strategic model, CX810, has been indefinitely postponed.

Strategic Rationale: Partnership Intact but Priorities Shifted

Changan Automobile described the move as a "normal commercial operation," emphasizing that its overall cooperation with Ford remains unaffected. However, the joint venture ceased accepting Ford vehicle production and after-sales business as of October 1, 2025, and currently has no plans for core business operations going forward.