Ford plans $760M assembly plant in Hangzhou, China
Ford Motor Co. says it plans to build a $760 million (4.8 billion yuan) assembly plant in the eastern China city of Hangzhou -- a facility that will produce up to 250,000 vehicles a year.
When the plant enters production in 2015, Ford's Chinese production capacity will total 1.2 million units, double the company's current capacity.
The Hangzhou project follows Ford's April 5 announcement that it will spend $600 million to expand production at its Chongqing assembly plant by 350,000 units.
Ford's three-way joint venture with Chongqing Changan Automobile Co. and Mazda Motor Corp. will operate the Hangzhou plant.
Ford is spending aggressively to catch up to China's market leaders, General Motors and Volkswagen AG, but it has a long way to go. In the first three months of 2012, Ford China sold 121,393 vehicles, far behind GM China's 745,152 units.
Last year, Ford announced plans to introduce 15 new models and 20 new powertrains to China by 2015.
Ford did not indicate which models will be produced in Hangzhou. However, the automaker may offer a hint of its production plans next week when it displays three as-yet unnamed SUVs at the Beijing auto show.
Show attendees also will see the redesigned Ford Focus, which began rolling off the assembly line of Ford's new Chongqing 2 plant six weeks ago.
The Hangzhou project follows Ford's April 5 announcement that it will spend $600 million to expand production at its Chongqing assembly plant by 350,000 units.
Ford's three-way joint venture with Chongqing Changan Automobile Co. and Mazda Motor Corp. will operate the Hangzhou plant.
Ford is spending aggressively to catch up to China's market leaders, General Motors and Volkswagen AG, but it has a long way to go. In the first three months of 2012, Ford China sold 121,393 vehicles, far behind GM China's 745,152 units.
Last year, Ford announced plans to introduce 15 new models and 20 new powertrains to China by 2015.
Ford did not indicate which models will be produced in Hangzhou. However, the automaker may offer a hint of its production plans next week when it displays three as-yet unnamed SUVs at the Beijing auto show.
Show attendees also will see the redesigned Ford Focus, which began rolling off the assembly line of Ford's new Chongqing 2 plant six weeks ago.
