Keen competition in the growing Asia-Pacific automotive market was a main driver in Ford Motor Co.’s decision to expand its collaboration with Mazda Motor Corp., a top Ford executive said Friday.
“They are very nimble. They can develop products very quickly,” Ford Executive Vice President W. Wayne Booker said of the Japanese automaker. “They have a great know-how of what Asian buyers want.”
Ford said Friday it would increase its stake in Mazda to 33.4 percent with a $480 million investment. Ford expects government approvals of the deal from the United States, Japan and Europe by the end of June.
sponsored Jargon is confusing, by definition. And the financial world has its own set of cryptic words.