Ford Invests Big in China

Ford Motor Corp (NYSE:F) is putting $490 million into a new plant in China that could significantly increase Ford's production in the country after the plant opens in 2012.
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Ford has some serious coin invested in their Chinese website - ford.com.cn.  Just for fun, click around, it feels like Mission Impossible with hot chicks.  

(Freep.com) China has been a strong source of growth for rivals such as Volkswagen and General Motors Co. But Ford has just a 2% market share in China and lost $129 million on a pretax basis in its Asia Pacific operations over the first half of 2009.

Ford President and CEO Alan Mulally was scheduled to announce that Ford would build the new manufacturing plant in Chongqing, China, with its partner, Chongqing Changan Automobile Co., to build cars for that market.

"Today's announcement reinforces our commitment to the further expansion of our China operations to meet the continued rise in demand from Chinese consumers for world-class Ford products and services," Ford President and CEO Alan Mulally said in a statement. 

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Ford's China announcement came a day after Ford said it would begin selling a new small car, called the Figo, in India.

Ford said its new plant in China initially would be capable of building 150,000 cars annually and that the plant would begin manufacturing its next-generation Ford Focus in 2012.

Over the next three years, Ford hopes to sell 2 million vehicles per year from a new lineup of small hatchbacks, minivans and sedans based on its new Ford Focus platform.

The new plant will increase Ford's annual capacity in China to 600,000 units by 2012. Ford also said it plans to introduce four vehicles to the Chinese market over the next three years. 

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