Ford Motor plans to build a US$760 million (S$950 million) auto assembly plant in the eastern Chinese city of Hangzhou, doubling its capacity in the world\'s biggest vehicle market as it strives to catch up with rivals.
The investment in the factory with joint-venture partner Changan Ford Mazda Automobile will add annual capacity of 250,000 vehicles when it begins operations in early 2015, the company said on Thursday.
Along with a recently announced new plant in Ford\'s main production base in Chongqing, in central China, Ford will double its current annual capacity to 1.2 million vehicles.
The new factory brings Ford\'s total investment in China to US$4.9 billion. Growth in China\'s car sales has dived from torrid levels over the past year but automakers such as Ford expect to continuing benefiting from preferences for foreign brands.
The investment in the factory with joint-venture partner Changan Ford Mazda Automobile will add annual capacity of 250,000 vehicles when it begins operations in early 2015, the company said on Thursday.
Along with a recently announced new plant in Ford\'s main production base in Chongqing, in central China, Ford will double its current annual capacity to 1.2 million vehicles.
The new factory brings Ford\'s total investment in China to US$4.9 billion. Growth in China\'s car sales has dived from torrid levels over the past year but automakers such as Ford expect to continuing benefiting from preferences for foreign brands.