Ford is spending the equivalent of $760 million to build a new assembly plant in Hangzhou, China, in partnership with joint venture Changan Ford Mazda Automobile. The new factory will add capacity for production of 250,000 vehicles annually.
With the new factory open, and following on several earlier investments in Chinese assembly facilities, Ford expects its annual production capacity in China to reach 1.2 million units by 2015. That's especially important because overall sales of new cars in China are expected to reach 30 million units annually by 2020 -- and Ford wants a piece of that action.
Ford has an aggressive plan for China that will see the automaker launch 15 new cars and 20 new powertrains within the country by 2015. Those include the Ford Focus and its electric variant, along with a variety of EcoBoost engines -- including the 2.0-liter inline-four and 1.0-liter inline-three engines.
CFMA's existing engine and transmission plants in Chongqing, China, are Ford's largest manufacturing location outside of North America. The factories build the Ford Mondeo, S-Max, and Focus, as well as the Mazda 3. The joint venture is also responsible for a factory in Nanjing, China, which builds four-cylinder engines.