BIZCHINA / Overseas Investment
Ford to set up Nanjing research center
(Shanghai Daily)
Updated: 2006-11-20 14:25
Ford Motor Corp said yesterday it would invest 220 million yuan (US$27.5
million) to set up an automotive research and development center in China.
The United States' second-largest auto maker said the first phase
investment in the R&D and engineering center in Nanjing, Jiangsu
Province, would help it supply the auto parts sourcing industry in China
as well as provide technology for localized production.
Ford said the long-term plan was to establish the center as a global base
for production design and technology innovation on all Ford models and
recruit more Chinese engineers.
"Turning global technology capabilities into real competitiveness on the
Chinese market will enable us to take a big step forward," Meiwei Cheng,
chairman and chief executive officer of Ford Motor China Co Ltd, told
reporters in Beijing, on the eve of the 2006 Beijing Autoshow.
The car maker will exhibit more than 52 new models under all its car
brands including Ford, Lincoln, Jaguar, Land Rover, Volvo and Mazda at
the show.
Ford has been aggressively catching up with General Motors Corp,
Volkswagen AG and Toyota Motor Corp by building new factories, increasing
sourcing from China as well as outfitting a complete line up with its
affiliated brands.
It plans to build its latest S-Max sports utility vehicle in China early
next year, expanding its Ford-branded production portfolio from Fiesta,
Mondeo, Focus hatchback and Focus sedan.
Ford plans to boost its capacity to more than 400,000 units in China next
year after the completion of its second plant in Nanjing in addition to
the current Chang'an Ford Mazda Automobile Co Ltd.
China, with an average 25 percent car-sales growth, is playing an
important role for Ford to rev up its sales amid sluggish home-market
demand.
Sales in the first 10 months grew 101 percent to 127,392 units in China.
(For more biz stories, please visit Industry Updates)
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