CHINA: Ford announces $US1 billion expansion

By just-auto.com editorial team | 17 October 2003

Ford will invest more than $US1 billion in China over the next several years to expand manufacturing capacity at Changan Ford in Chongqing from the current 20,000 units a year to 150,000, by adding a second car plant and new engine plant. No timeframe or product details were given.

"The automotive future of China is very bright, and we are participating fully in its growth. I am pleased to reaffirm our long-term plans for China," Ford chairman and CEO Bill Ford said.

In January 2003, the plant, a joint venture with Changan Automobile Group, launched the Fiesta, Ford's first locally produced car for the Chinese market, and, in May, the Mondeo was introduced.