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Investment in car engine plant to rise
Source: Agencies |
November 22, 2012, Thursday
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Print Edition
Print Edition
FORD Motor Co, Mazda Motor Corp and their partner in China have agreed to invest an additional US$37.3 million in their engine plant venture, following surging sales of Ford cars, including its latest Focus model.
Ford, Mazda and Chongqing Changan Automobile Co will increase their investment in the engine plant in Chongqing according to their shareholdings, which are 25 percent, 25 percent and 50 percent, respectively, the Chinese firm said in a statement yesterday.
The plant makes engines for cars including the Ford J53 and J36 models, an official at Chongqing Changan said.
Ford's China car sales have risen recently as consumers shun Japanese brands amid a territorial row between China and Japan. The dispute has also helped General Motors, BMW and Hyundai Motor.
Ford's October vehicle sales in China jumped 48 percent from a year earlier, outpacing a 5.3 percent gain in the country's overall market, according to company data.
The Focus model, launched in late April, has been selling so well that workers at Ford's Chongqing car plant have added shifts to meet demand, said Trevor Hale, the firm's Shanghai-based China spokesman.
The engine venture, which also makes engines for Madza models, will probably shut some old production lines after the latest investment, the official at Chongqing Changan said.
Ford, Mazda and Chongqing Changan Automobile Co will increase their investment in the engine plant in Chongqing according to their shareholdings, which are 25 percent, 25 percent and 50 percent, respectively, the Chinese firm said in a statement yesterday.
The plant makes engines for cars including the Ford J53 and J36 models, an official at Chongqing Changan said.
Ford's China car sales have risen recently as consumers shun Japanese brands amid a territorial row between China and Japan. The dispute has also helped General Motors, BMW and Hyundai Motor.
Ford's October vehicle sales in China jumped 48 percent from a year earlier, outpacing a 5.3 percent gain in the country's overall market, according to company data.
The Focus model, launched in late April, has been selling so well that workers at Ford's Chongqing car plant have added shifts to meet demand, said Trevor Hale, the firm's Shanghai-based China spokesman.
The engine venture, which also makes engines for Madza models, will probably shut some old production lines after the latest investment, the official at Chongqing Changan said.
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