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Ford to build plant
September 7, 2012, Friday
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ALAN Mulally, president and chief executive officer of Ford Motor Co, said his company is investing US$760 million to build a new assembly plant in Hangzhou, the automaker's biggest expansion project in 50 years.
He was on hand for the start of construction on the new Chang'an Ford Mazda assembly plant in Qianjin Industrial Park in Xiasha District.
The factory, scheduled for completion in 2015, will have an annual production capacity of 250,000 vehicles and will bring the capacity of Chang'an in China to more than 1.2 million units.
In recent years, the automobile industry has become a pillar of Hangzhou's economic growth with a production value of 58.9 billion yuan (US$9.29 billion) in the first half of 2012. That was up 16 percent from a year earlier.
The industry is expected to finish out the year with production value of more than 120 billion yuan.
Mulally said the city's excellent facilities, location, skilled workforce and good investment environment were too good to ignore.
The new plant, he said, will be capable of manufacturing seven different car models.
He was on hand for the start of construction on the new Chang'an Ford Mazda assembly plant in Qianjin Industrial Park in Xiasha District.
The factory, scheduled for completion in 2015, will have an annual production capacity of 250,000 vehicles and will bring the capacity of Chang'an in China to more than 1.2 million units.
In recent years, the automobile industry has become a pillar of Hangzhou's economic growth with a production value of 58.9 billion yuan (US$9.29 billion) in the first half of 2012. That was up 16 percent from a year earlier.
The industry is expected to finish out the year with production value of more than 120 billion yuan.
Mulally said the city's excellent facilities, location, skilled workforce and good investment environment were too good to ignore.
The new plant, he said, will be capable of manufacturing seven different car models.
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