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BIZCHINA / Top Biz News
Ford starts production at new China factory
(Agencies)
Updated: 2007-09-24 16:35
Ford Motor Co said its newest joint-venture factory in China began
operations Monday and will produce small cars under the Ford and Mazda
brands for the fast-growing Chinese market.
The US$510 million?factory in the eastern city of Nanjing will have an
initial production capacity of 160,000 vehicles per year, Ford said. It
said that would increase Ford's annual production capacity in China to
410,000 vehicles.
China is the world's second-biggest and fastest-growing vehicle market.
Global automakers have invested billions of dollars in hopes of capturing
a share of the surging growth.
"This new state-of-the-art facility will significantly increase our
capacity in China, and allow us to continue our rapid growth in the
market," Ford President and CEO Alan Mulally said in a statement.
The unusually flexible new factory can produce eight models on different
chassis, the company said. Ford, based in Dearborn, Michigan, says its
sales in China rose 29 percent in the first eight months of this year to
114,702 vehicles.
Ford manufactures cars in Nanjing with its Japanese affiliate, Mazda
Motor Corp. and their Chinese partner, Changan Automotive Group.
Ford also sells imported models from its Jaguar, Land Rover, Lincoln and
Volvo brands.
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