Ford’s Chinese partner, Jiangling Motors opened a new plant in the Asian country doubling capacity in the region.
Jiangling Motors invested $300 million in the JMC Xiaolan plant, which will add 300,000 units to the current annual capacity of 245,000 vehicles. Ford said that the facility will manufacture both Ford vehicles as well as JMC-branded cars. Ford is also investing in China $4.9 billion, part of its plan to catch up with rivals GM and VW, and it will also begin selling its luxury Lincoln vehicles in the region from 2014.
“Ford’s expansion in China this year exceeded our expectation,” said John Zeng, Shanghai-based managing director at LMC Automotive. “Ford holds all the aces in China this year as its new products are well accepted by Chinese buyers.”
Ford id the fastest-growing foreign automaker in the Chinese market so far this year, as sales have increased 48% during the first five months of the year, thanks to strong demand for the Kuga and EcoSport SUVs. The automaker announced it will introduce through Jiangling Motors two new global products and also develop a new SUV and a new commercial vehicle.
Source: The Detroit News