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China: Ford’s Changan venture gets US$24M fine for antitrust violation

By  |  June 5, 2019

China’s market regulator fined Ford Motor’s main local joint venture 162.8 million yuan ($23.55 million) on Wednesday for violating anti-monopoly laws, the latest automaker with foreign partners to face such penalties, reported Reuters.

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    The State Administration for Market Regulation (SAMR) said on its website that Ford’s joint venture with Chongqing Changan Automobile Co, Changan Ford, had breached the law by setting a minimum resale price for its cars in the Chinese municipality of Chongqing since 2013.

    The joint venture, which is owned 50:50 by Ford and Changan Auto, did not provide evidence that this complied with the country’s anti-monopoly law during the investigation, it said.

    Full Content: Reuters

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