Ford To Build New Chinese Plant
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NEW YORK (Nikkei)--Ford Motor Co. will construct a new passenger car plant in Chongqing, China, through its joint venture with Mazda Motor Corp. (7261) and Chinese automaker Chongqing Changan Automobile Co.
The new facility, to be built by Changan Ford Mazda Automobile Co., is projected to have an annual production capacity of 150,000 vehicles and be in operation by 2012. The new plant will produce Ford's Focus midsize sedan.
Ford's sales in the Asia-Pacific and Africa region totaled some 1.2 billion dollars in the April-June period, accounting for only 4% of the U.S. automaker's total sales. The company's heavy dependence on industrialized countries is weighing down its performance, so it is hurrying to cultivate emerging markets that can be a cornerstone of future growth.
With other automakers such as Nissan Motor Co. (7201) and Honda Motor Co. (7267) also expanding facilities in China, competition there is sure to heat up in the future.
2009/09/24 02:06 - Ford To Build New Chinese Plant