Ford Motor Company recently announced that it is expanding its facilities in Chongqing, China, in order to meet growing demand in the world’s largest auto market.
Ford Motor together with its joint venture Changan Ford Mazda Automobile, plan to invest around USD 600 million to expand capacity in Chongqing by 350,000 passenger vehicles, to a total capacity of 950,000 vehicles annually. This will make Ford’s investment in China rise to about USD 4.1 billion.
“We are going further in China and across Asia,” said Joe Hinrichs, president of Ford Asia Pacific and Africa. “This expansion is an investment in Ford’s long-term future, globally and will help us to achieve our goal of increasing worldwide sales by nearly 50 percent by mid-decade to about 8 million vehicles per year. With this additional investment and capacity expansion, Ford continues to lay the foundation for long-term growth in the world’s largest automotive market.”
Changan Ford already has two assembly plants and an engine plant in Chongqing, and will open a new assembly line, body and paint shop. Up to ten different kinds of vehicles and a total of 2 million units will be produced globally by Ford on this platform, the company planning to introduce 15 new vehicles and 20 new engines and transmissions in China by 2015.