Ford starts work on new plant
By Jin Jing |
June 17, 2011, Friday
|
Print Edition
Print Edition
FORD Motor Co yesterday broke ground on a US$500 million engine factory in southwest China as the US-based auto maker seeks to expand in the world's largest vehicles market.
The plant in Chongqing will more than double the engine production capacity at its Chinese venture Changan Ford Mazda Automobile Co to 750,000 units when it starts operation in 2013.
Ford said the plant will produce engines for its vehicles manufactured and sold in China.
Ford, which survived the economic crisis without US government financial aid, is quickening its expansion in China, where it trails General Motors and Volkswagen.
Ford's China sales rose 14 percent year on year to 45,162 units in May. It sold 230,068 units in the first five months, compared to GM's 1.08 million units.
"Ford played the role of follower in China mainly due to limited products and slow development in localization," said Lin Huaibin, a Shanghai-based analyst at IHS Automotive.
"Its China sales rely on the small-car segment and lacks an attractive line-up such as a sport utility vehicle, which are in high demand in China," he added.
In April, Ford announced it will bring 15 new vehicles to China by 2015. It expects that strong sales growth in Asia will help boost its global sales by 50 percent to 8 million vehicles annually in the next four years.
The plant in Chongqing will more than double the engine production capacity at its Chinese venture Changan Ford Mazda Automobile Co to 750,000 units when it starts operation in 2013.
Ford said the plant will produce engines for its vehicles manufactured and sold in China.
Ford, which survived the economic crisis without US government financial aid, is quickening its expansion in China, where it trails General Motors and Volkswagen.
Ford's China sales rose 14 percent year on year to 45,162 units in May. It sold 230,068 units in the first five months, compared to GM's 1.08 million units.
"Ford played the role of follower in China mainly due to limited products and slow development in localization," said Lin Huaibin, a Shanghai-based analyst at IHS Automotive.
"Its China sales rely on the small-car segment and lacks an attractive line-up such as a sport utility vehicle, which are in high demand in China," he added.
In April, Ford announced it will bring 15 new vehicles to China by 2015. It expects that strong sales growth in Asia will help boost its global sales by 50 percent to 8 million vehicles annually in the next four years.
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