Changan Ford Mazda Automobile, Ford Motor Company’s passenger car joint venture in China, has launched construction of a new, state-of-the-art engine plant in Chongqing. The $500 million investment will more than double CFMA’s annual engine production capacity in China to 750,000 units when it comes on line in 2013.
Along with a variety of other moves, including plans to add a second assembly plant to support the addition of 15 new products, Ford is working hard to establish itself in China. The maker was initially reluctant to enter what has now become the world’s largest automotive market – and is paying a price for that delay. Ford currently holds less than a 3% share of the Chinese market while that country’s top maker, General Motors, has a 15% share.
“Today’s ground-breaking ceremony represents yet another milestone in Ford’s accelerated expansion plan for China. This plan reinforces our commitment to aggressively grow the Ford brand in China and offer a full range of exciting, fuel-efficient vehicles to Chinese customers,” said Joe Hinrichs, president of Ford Asia Pacific and Africa.