By 2015, Ford Motor Company’s annual capacity in China is expected to be 1.2 million passenger cars, otherwise known as double its current output. To make sure this plan goes through, the automaker will build an all-new assembly plant in Hangzhou, China and add to its largest expansion in 50 years. An investment of $760 million will be made by Ford and its Chinese joint venture, Changan Ford Mazda Automobile to put the plant together. Upon its completion, the Hangzhou facility will be instrumental in creating the planned 15 new vehicles and 20 new powertrains for China in the next three years.
“So far, Ford’s investments in China and across Asia represent its largest and most rapid global expansion in fifty years. This expansion will help us realize an increase in global sales by about 50 percent from 2010 to about 8 million vehicles annually by mid-decade,” said Joe Hinrichs, president of Ford Asia Pacific and Africa. Ground breaking for the plant will begin later on this year. With numerous facilities scattered across China, Ford has decent grip on the most vast auto market on the globe and Hangzhou will be there to support each one. “Building this plant helps lay the foundation for that growth and reconfirms our commitment to China, which is expected to have sales of about 30 million vehicles by 2020.”