Ford to set up plant in Chongqing, China
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U.S.-based Ford Motor Co, the world's fourth largest auto maker, plans to build an assembly plant in Chongqing, southwestern China, the official Xinhua News reported on Tuesday.
The plant, which will be Ford's third in China, will be located in a new area in northern Chongqing, next to the company's existing plant in the city.
The plant will have an annual production capacity of more than 300,000 vehicles and will mainly produce high-end cars, SUVs and crossover car models. In addition, the auto maker will set up an auto engine factory nearby, said Xinhua News.
Changan Ford Mazda Automobile, a joint venture with Chongqing Changan Auto Co<000625><200625> and Mazda Motor Corp, is Ford's first China plant. It has an annual production capacity of 250,000 vehicles. In April, Changan Ford Mazda sold 25,882 vehicles, representing a year-on-year growth of 33% from a year earlier, according to previous reports.
Ford's second plant is located in Nanjing and has an initial capacity of 160,000 units per year. The plant started operations in September 2007.
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