FAW Mazda Motor Sales Co. Ltd. (FMSC) is a joint venture company established on March 1, 2005 by FAW Group, FAW Car Co. Ltd. (FCC), and Mazda Motor Corporation. The registered capital of the new joint venture is US $13.7 million, with FAW Group holding a 5% stake, FAW Car with 70%, and Mazda Motor Corporation holding 25%. As the first network of Mazda dealers in China, the company will not only be responsible for Mazda6 sales within the Chinese market, but will have sole distribution rights to all future Mazda-branded vehicles to be produced and launched in China. FMSC will also be responsible for spare parts and accessories distribution, and special factory-supplied tools. The company's mid-term goal is to produce and sell over 300,000 units in the Chinese market by 2010.