Jiangling Motors announces strategic adjustment of channel resources.

On September 23, Jiangling Motors Corporation (JMCG) announced its intention to appoint Ford Motor Company Sales & Service (China) Ltd. as the exclusive distributor for Ford brand passenger cars and pick-up trucks produced by JMCG in the Chinese market. At the same time, JMCG and its partner, Ford Motor Company, plan to increase their investment in Jiangling Ford Automotive Technology Co., Ltd. to settle its debts. This adjustment is part of Ford's new brand strategy upgrade and channel resource strategic innovation overall plan. JMCG believes that having Ford's wholly-owned sales and service company implement unified marketing and channel management for its products will significantly improve network coordination efficiency, expand market penetration, enhance the Ford brand image, and provide Chinese consumers with a more convenient one-stop sales and service experience. It will also effectively enhance dealer operation efficiency and profitability. As a key deployment in the overall strategic advancement, JMCG and Ford will increase their investment in Jiangling Ford to settle its debts, laying a foundation for a smooth transition and orderly closure for Jiangling Ford's follow-up actions, fully safeguarding the legitimate rights and interests of all related parties.