Ford Motor Company sports car maker Aston Martin in 1989, later selling it on March 12, 2007, although retaining an 8% stake. Ford purchased Volvo Cars of Sweden in 1999, selling it to Zhejiang Geely Holding Group in 2010. In November 2008, it reduced its 33.4% controlling interest in Mazda of Japan to a 13.4% non-controlling interest. On November 18, 2010, Ford reduced their stake further to just 3%, citing the reduction of ownership would allow greater flexibility to pursue growth in emerging markets. Ford and Mazda remain strategic partners through exchanges of technological information and joint ventures, including an American joint venture
Automotive industry in China traditional "Big Four" domestic car manufacturers are SAIC Motor, Dongfeng, FAW and Chang’an. Other Chinese car manufacturers are Geely, Beijing Automotive Group, Brilliance Automotive, Guangzhou Automobile Group, Great Wall, BYD, Chery and Jianghuai (JAC). As of late 2018, several multinational manufacturers have partnerships with domestic manufacturers to make cars in China. Some are long-standing, such as the 30 years for Audi and FAW; granted, this alliance was not manufacturing cars in China until more recently. The main industry group for the Chinese automotive industry is the China Association of Automobile Manufacturers (中国汽车工业协会). China has its traditional “Big four” state-owned domestic