21 Apr 2012

Ford increasing its investment in China

6:36 am on 21 April 2012

Ford has announced further investment in China, with plans to build a $US760 million factory in Hangzhou. Production at the new plant is expected to start in 2015.

Ford has been boosting its manufacturing capacity in China as part of its effort to raise global sales by nearly 50% to about 8 million cars by 2015.

Ford already has a big complex in Chongqing, which is its largest global manufacturing location outside south-east Michigan.

Two weeks ago, the company said it would build a third plant there by investing $US600 million.

China is already the world's biggest car market. Ford aims to double the number of its dealerships and employees there by the end of the decade.

The BBC reports the latest announcement brings the company's total investment in China to approximately $US4.9 billion since 2006.