September 28, 2010

Ford to Build New Auto Plant in Chongqing

Ford Motor's Changan Ford Mazda Automobile Corporation joint venture (CFMA) will build a new engine plant in a new deal signed with Chongqing Municipality. The plant will be state of the art and will be financed at a value of half a billion (US) dollars directly from CFMA. When complete in 2013 it will double Ford's production capacity to 400,000 engines per year.

The head of Ford Asia-Pacific Joe Hinrichs told reporters "the growth potential in this part of the world in the next ten years is astounding"....

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