Ford (F) to Invest Another $760M in Chinese Expansion
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Ford (NYSE: F) shares are indicated higher Thursday amid reports the company plans a fairly large expansion in China.
According to the Detroit Free Press, Ford is looking to construct a $760 million assembly plant in the city of Hangzhou in Zhejiang Province. Ford will make the investment along side China partner Changan Ford Mazda Automobile.
Construction is to begin sometime later in 2012, with expected completion in 2015.
The new plant will give Ford the capacity to build 1.2 million autos in China annually. The plant will help Ford's overall annual production hit 8 million vehicles by 2015.
Just two-weeks ago, Ford said it would invest about $600 million for expansion in Chongqing, where it already has two assembly plants.
Shares are up about 0.5 percent early.
According to the Detroit Free Press, Ford is looking to construct a $760 million assembly plant in the city of Hangzhou in Zhejiang Province. Ford will make the investment along side China partner Changan Ford Mazda Automobile.
Construction is to begin sometime later in 2012, with expected completion in 2015.
The new plant will give Ford the capacity to build 1.2 million autos in China annually. The plant will help Ford's overall annual production hit 8 million vehicles by 2015.
Just two-weeks ago, Ford said it would invest about $600 million for expansion in Chongqing, where it already has two assembly plants.
Shares are up about 0.5 percent early.
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