Ford invests 500 million USD in new Chinese engine plant
Published June 16, 2011
Ford are ramping up their efforts in the China market over the next few years with an increased model range and more locally produced parts in a bid to boost their global sales by upto 50% over the next four years. The new plant will be based in Chongqing in South West China and will double Fords current engine capacity in China when the plant comes online in early 2013.
Fords Joe Hinrichs, president of Ford Asia Pacific and Africa, and chairman and CEO of Ford China was on hand to say: Ã¢TodayÃ¢s ground-breaking ceremony represents yet another milestone in FordÃ¢s accelerated expansion plan for China. This plan reinforces our commitment to aggressively grow the Ford brand in China and offer a full range of exciting, fuel-efficient vehicles to Chinese customers.Ã¢
Chongqing Mayor Huang Qifan, together with other high-ranking Chongqing government officials, attended the ceremony at the engine plant site in ChongqingÃ¢s Liangjiang New Area Ã¢?the only national-level development zone located in western China.
The new engine plant represents one of several new investments that Ford has made to support its aggressive expansion plan in China. Last July, FordÃ¢s commercial vehicle partner in China, Jiangling Motors Corporation (JMC), broke ground for a new USD 300 million vehicle assembly plant in Nanchang. JMC produces the Ford Transit, a leader in ChinaÃ¢s light bus segment.
In April of this year, Ford announced that it will bring 15 new vehicles to China by 2015. These products will strengthen FordÃ¢s position in existing segments while driving new growth in others. In addition, Ford signed an MOU in May to build its first transmission plant in the country, also in Chongqing, with an initial annual capacity of up to 400,000 units. Early next year, FordÃ¢s second passenger-car assembly plant in Chongqing will begin production, starting with the new Ford Focus.
Ford plans to double the number of employees and dealership outlets it has in China by mid-decade.