Ford (F) Opens Second Plant in Chongqing China to Meet Rising Demand
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Ford Motor Co. (NYSE: F) opened the doors of its new $490 million factory in the southwestern city of Chongqing, China today.
The Chongqing Assembly Plant 2 has the ability to produce up to 150,000 automobiles on an annual basis and will begin producing Ford's popular Focus compact model. This is the company's fourth passenger-vehicle assembly plant in China and moves the company one step closer to its goal of introducing 15 vehicles in the country by 2015.
Vehicle sales in Ford's China segment rose 7 percent in 2011 and the company is forecasting the market will grow by 5 percent on average for the rest of the decade. To meet the rising demand, Ford has plans to expand production at its recently opened Chongqing Assembly Plant 1.
Ford looks to make Chongqing the second largest manufacturing center, behind Michigan, once all is said and done. The company anticipates production will be completed by next year in Chongqing. The new facility will be able to produce up to six different types of vehicles.
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The Chongqing Assembly Plant 2 has the ability to produce up to 150,000 automobiles on an annual basis and will begin producing Ford's popular Focus compact model. This is the company's fourth passenger-vehicle assembly plant in China and moves the company one step closer to its goal of introducing 15 vehicles in the country by 2015.
Vehicle sales in Ford's China segment rose 7 percent in 2011 and the company is forecasting the market will grow by 5 percent on average for the rest of the decade. To meet the rising demand, Ford has plans to expand production at its recently opened Chongqing Assembly Plant 1.
Ford looks to make Chongqing the second largest manufacturing center, behind Michigan, once all is said and done. The company anticipates production will be completed by next year in Chongqing. The new facility will be able to produce up to six different types of vehicles.
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