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August 23, 1995| Times Staff and Wire Reports

Ford to Invest in Chinese Car Maker: The Dearborn, Mich.-based auto maker said it will pay $40 million for a 20% stake in Jiangling Motors Co. as part of an agreement to develop a line of vehicles. The companies plan to build minivans and vans for sale in China and overseas, using Ford's designs and trademark and Jiangling's components. Ford Motor Co.'s stake in Jiangling will make it the second-largest shareholder in the Chinese auto maker, based in the Jiangsu province. Jiangling's parent, the state-run Jiangling Motors Corp. Group, will have a controlling 51% stake.

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