TOKYO — Mazda is merging its Chinese sales arms into one, to concentrate its resources and cut costs, as the Chinese electric vehicle market becomes more competitive and the Japanese carmaker’s sales struggle to keep up with Chinese and American rivals including Chinese electric vehicle giant BYD and Tesla of the U.S.
Changan Mazda, a joint venture with Mazda and China’s Changan Automobile, will acquire 100% of FAW Mazda, another jointly owned company by the Japanese maker and the China FAW Group. Changan Mazda already owned the majority of FAW Mazda in 2021, and will buy the rest of the shares later.