Ford 2003 Annual Report Download - page 30

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NEW DIRECTIONS
28 FORD MOTOR COMPANY
Investing in China
In October, Ford Motor Company announced,
along with its partners in China, that they would
invest more than $1 billion over the next several
years to expand manufacturing capacity, introduce
new models and expand distribution channels
in the rapidly growing Chinese market. Ford
Chairman and CEO Bill Ford then joined
Chongqing government officials and senior
Changan Automobile Group leaders to break
ground at the Changan Ford joint venture, initiating
expansions that will take the plant from its present
capacity of 50,000 units to 150,000 units a year.
Ford recently announced plans for a second
car plant through the joint venture. These and
other actions in the future will enable Ford to
participate successfully in a market that may
well become the world’s largest within the
next generation.
In January 2003, Changan Ford began production
of the Ford Fiesta — Ford’s first domestically
produced car for the Chinese market. That was
followed in May 2003 by the introduction of a
second car, the Ford Mondeo.
In addition, Ford’s affiliate, Mazda Motor Corporation, worked with local
partners to build and sell more than 80,000 vehicles in China last year,
including China’s Car of the Year, the Mazda6. Volvo, Jaguar and Land
Rover products also are being imported to China as fully built vehicles,
as are selected Ford-brand products.
Jiangling Motors Corporation, approximately 30 percent Ford owned,
which produces several Transit models along with its own brand of
light commercial vehicles, had a record year in 2003 in both
absolute volume of vehicles and profitability.
Ford also has been working closely with Chinese suppliers to help
develop high-quality local sources of components, not only to
help support the company’s Chinese operations, but to help
Chinese workers become viable customers for Ford products.
During his trip to the People’s Republic of China, Bill Ford met
with state leaders and senior government officials, discussing
the global auto industry, Ford Motor Company’s business in
China, and Ford’s commitment to the future of China’s
dynamic automotive industry.
Groundbreaking at Changan Ford,
Chongqing, China
Ford Mondeo
Produced at Changan Ford, China
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