Ford Announce New China Factory
Industry: Auto Dealers
Ford has announced that it will be investing $760m into a new factory in eastern China, with the aim of becoming a leading force in the world’s biggest market.
South West (PRUnderground) April 20th, 2012
The Ford Motor Company has announced that it will be investing $760m into a new factory in eastern China, with the aim of becoming a leading force in the world’s biggest market.
Welcomed by Ford car dealers the world over, the move forms part of what the group is calling its most significant expansion in half a century. Ford’s ambitious plans will hopefully see the company’s global sales double by 2015 from totals recorded in 2010.
Ford has been making great strides in the country over the last decade or so, despite not having produced vehicles there for nearly as long as other automobile manufactures. Based in the Zhejiang province, the new Hangzhou plant is sure to greatly increase Ford’s presence, and will be developed alongside a recently confirmed $600m expansion of its vast Chongqing factory.
China is set to play a major role in Ford’s plans for the future, with company officials stating that they hope to be producing 15 more vehicle models there in just three years’ time. With the nation proving to be one of the most prosperous countries in what is still a challenging worldwide economic climate, Ford is no doubt doing all it can to capitalise on favourable market conditions and bring its quality cars to an even wider variety of people.
This latest announcement comes just before the opening of the Beijing car show, at which Ford are expected to unveil a brand new sport utility vehicle designed to appeal to younger users.
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