China fines Ford's Changan venture $24 million for violating anti-monopoly law
Key Points China's market regulator said it has fined Ford's joint venture with Changan Automobile Group $23.55 million for violating anti-monopoly law.The State Administration for Market Regulation said on its website the joint venture, Changan Ford, had set a minimum resale price for its cars in the Chinese municipality of Chongqing since 2013, in breach of the law. Related Tags Asia NewsAutosChinaFord Motor Co
About Car
A car, or an automobile, is a motor vehicle with wheels. Most definitions of cars state that they run primarily on roads, seat 1-8 people, have four wheels, and mainly transport people rather than cargo. There are over 1.6 billion cars in use worldwide as of 2025. The French inventor Nicolas-Joseph Cugnot built the first steam-powered road vehicle in 1769, while the Swiss inventor François Isaac de Rivaz designed and constructed the first internal combustion-powered automobile in 1808. The mode...
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