Subscribe to industry newsletters

Advertise on Bizcommunity

Ford says to build new, multi-million plant in China

SHANGHAI: US auto giant Ford said on Thursday (19 April 2012) it would build a US$760-million plant in China's eastern city of Hangzhou, as foreign companies ramp up output in the world's biggest car market.
Ford and its Chinese joint venture will build the assembly plant in a bid to double annual production capacity in China to 1.2 million passenger cars after the factory opens in 2015, Ford said in a statement.

"The Chinese auto market remains one of the most vibrant in the world," Dave Schoch, chairman of Ford China, said in the statement. As the world's largest auto market, China has become increasingly important to foreign players. China's vehicle sales rose an annual 2.5 percent to 18.51 million units in 2011.

But growth in the market has been slowing after the government rolled back sales incentives and some cities imposed tough restrictions on car numbers to ease chronic traffic congestion and pollution. Ford has based most of its China operations in the southwestern megacity of Chongqing, where it has two assembly plants. The US company also has plant in the eastern city of Nanjing.

The US car maker had previously announced plans to bring 15 new vehicles to China by 2015. The new plant will bring Ford's total investment in China to $4.9 billion, the statement said.

The auto giant said the latest investment was part of its largest expansion in 50 years and would help the company boost global sales by about 50 percent from 2010 to eight million vehicles annually, the statement said.

The announcement comes ahead of the China auto show, a key industry event, which starts in Beijing next week.

Source: AFP


I-Net Bridge
For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.

We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.
Go to:
Simon Brown
I think this is a good step from them. Ford is really a successful car manufacturer and because of that they expand more and more im really impressed with their business strategy. I drive mustang and whenever i need they all have it and all are available. They really have a good services!
Posted on 29 Sep 2012 06:51