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Thursday, April 19, 2012

Ford unveils further investment in China


US carmaker Ford has announced further investment in China, with plans to build a $760m (£474m) factory in Hangzhou.
Car production at the new plant is expected to start in 2015.
Ford already has a big complex in Chongqing, which is its largest global manufacturing location outside south-east Michigan.
Two weeks ago, the company said it would build a third plant there by investing $600m.
Ford has been boosting its manufacturing capacity in China as part of its effort to raise global sales by nearly 50% to about 8 million cars by 2015.
"So far, Ford's investments in China and across Asia represent its largest and most rapid global expansion in 50 years," said Joe Hinrichs, president of Ford Asia Pacific.

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