Ford Motor Company announced that it is planning to invest up to $600 million to advance production in China.
The company will invest to turn the inland Chinese city of Chongqing into its major manufacturing center for passenger cars.
“This expansion is an investment in Ford Motor Company’s long-term future, globally and will help us to achieve our goal of increasing worldwide sales by nearly 50 percent by mid-decade to about 8 million vehicles per year. With this additional investment and capacity expansion, Ford Motor Company continues to lay the foundation for long-term growth in the world’s largest automotive market,” said Joe Hinrichs, president of Ford Motor Company Asia Pacific and Africa.
The company will invest to turn the inland Chinese city of Chongqing into its major manufacturing center for passenger cars.
“This expansion is an investment in Ford Motor Company’s long-term future, globally and will help us to achieve our goal of increasing worldwide sales by nearly 50 percent by mid-decade to about 8 million vehicles per year. With this additional investment and capacity expansion, Ford Motor Company continues to lay the foundation for long-term growth in the world’s largest automotive market,” said Joe Hinrichs, president of Ford Motor Company Asia Pacific and Africa.