Mazda Motor, a Japanese multinational automaker, Changan Automobile, a Chinese state-owned automobile manufacturer, and China FAW, a Chinese state-owned automotive manufacturing company, agreed to form a new joint venture. Financial terms were not disclosed. With the change in the investment structure, the three companies aim to utilize every strategic and managerial opportunity in the new joint investment company and strive to make its business and management system optimal to adapt to the needs of the expanding Chinese market.