Ford is aiming to double its sourcing from China.
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According to the Financial Times, executive chairman Bill Ford said the group is aiming to source components valued at $US2.5bn-3bn from China this year, up from $1.6bn-1.7bn last year.
The newspaper noted that the move follows an announcement by Volkswagen earlier this year to increase Chinese sourcing from $100m in 2005 to $1bn. Other vehicle manufacturers have also said that they will source more from China.
According to Goldman Sachs, component exports from China were valued at US$5.4bn in 2005, and this will rise to US$21bn by 2010.
