Ford Motor Co. will purchase an SUV built at its truck joint venture in China and distribute the light truck via its dealership network in South America.
Under the deal, Ford’s trading company in Wilmington, Del., will purchase the CX743 and ship the SUV to designated South America countries, Jiangling Motors Corp. said last week.
The deal is expected to generate 477 million yuan ($68 million) in revenue for Jiangling Motors in 2020, the company added in filings on the stock exchange in the south China city of Shenzhen where it is listed.
Jiangling Motors is a three-way partnership between Ford and two state-owned Chinese automakers -- Changan Automobile Co. and Jiangling Motors Group.
The joint venture builds the Transit van, Everest SUV, Tourneo multi-purpose vehicle and Territory compact crossover for the Ford brand. It also assembles pickups, SUVs, vans, and light and heavy-duty trucks for its proprietary JMC brand.
The CX743 is an SUV that Jiangling Motors Corp. markets under the JMC brand in China.
Additional details about the deal or the CX743 were not released.
In China, Ford also operates a joint venture with Changan, which builds and markets Ford-badged passenger vehicles.