Ford plans to build new workshop in China

Ford Motor Co. will continue to enlarge investment in China, with the plan to invest US$510 million to build its third largest joint venture assembly plant in Nanjing, said John Parker, Executive Vice President Asia Pacific and Africa.

"We have been looking for opportunities to expand in China's market," He said. The planned assembly plant is expected to produce 160,000 cars per year at the early stage, with the aim to achieve an annual output of 300,000 units.

Meanwhile, Ford Motor Co., ranking second in American automobile manufacturing, will rely on Changan Ford, a Ford Motor Company joint venture in China, to build the sole auto-engine manufactory.

In addition, Ford will enlarge the scale of the joint venture, so as to capitalize on growth opportunities in China in the next five years. Currently, its assembly plant in Chongqing produced 270,000 units annually. Changan Ford sold a total of 91,000 units in the first quarter of 2008, up 58%, according to Parker.

Ford entered China in 2003, holding 2% market share at present. Its sale amounted to more than 200,000 in 2007.