Ford to Open 5th Chinese Plant, Double Production
By 2015, Ford expects China to account for 15 percent of all sales.
When complete in 2015, the $760 million plant in Hangzhou will increase annual Chinese production to 1.2 million cars -- which, if operating at capacity, would account for 15 percent of Ford's global sales. By then, the company says it wants to sell at least 8 million cars per year, a 45 percent increase from 2011, and expects nearly 70 percent of this growth to come from Asian countries.
During the first quarter of 2012, Ford sold just over 121,000 cars in China, while General Motors, long revered in China for the Buick brand once favored by several historic Chinese figures, sold more than six times that number. In 2011, Ford's Chinese sales totaled about half a million.
Ford is moving fast. In February, the automaker opened a second plant in Chongqing to build the Focus, and two weeks earlier it announced a $350 million investment to expand production by 350,000 cars in the first Chongqing plant. In March, Ford said it would build two plants in India by 2014 for a total price of $1 billion.
"These are incredibly exciting times for Ford in Asia,” said Joe Hinrichs, president of Ford Asia Pacific and Africa, in a press release. “So far, Ford’s investments in China and across Asia represent its largest and most rapid global expansion in fifty years."
Later this month, Ford will introduce the new Focus, Focus ST, Escape, and another vehicle at the Beijing Auto Show.
Now the Chinese can have cheap, low quality cars to drive that are like the low quality products they are sending here!!
What are you, 10 years old? Please grow up.
Now the Chinese can have cheap, low quality cars to drive
Do a youtube search on Chinese car test crash. Will give you a good laugh at some of the vehicles they were attempting to push into the European market. The vehicles being made in China by any of the major nameplates is far superior, and better built, than any of the Chinese automakers.
EXPLORE NEW CARS
MORE ON MSN AUTOS
ABOUT EXHAUST NOTES
Cars are cool, and here at MSN Autos we love everything about them, but we also know they're more than simply speed and style: a car is an essential tool, a much-needed accessory to help you get through your day-to-day life. What you drive is also one of the most important investments you can make, so we'll help you navigate your way through the car buying and ownership experiences. We strive to be your daily destination for news, notes, tips and tricks from across the automotive world. So whether it's through original content from our world-class journalists or the latest buzz from the far corners of the Web, Exhaust Notes helps you make sense of your automotive world.
Have a story idea? Tip us off at email@example.com.