Plans for further investment in China for Ford unveiled
Ford have announced further investment in China, with plans to build a factory in Hangzhou which is said will cost around £474 million.
This will be an addition to the massive complex that already exists in Chongqin which is Ford's largest manufacturing base outside of its Michigan plant.
Ford are planning to boost their sales around the world by up to 50% by the year 2015 by creating more cars out of China.
The company are also hoping their expansion in the Asian market will see car sales in China nearly double by 2020.
Ford are said to have invested $4.9 billion in China since 2006, a country that has the world's largest car market.
Due to being late in the game with their investment, Ford are having to play catch up with Volkswagen and General Motors who both invested in China much earlier and reaping the benefits with much higher car sales than Ford at the moment.
Image courtesy of Jakob Monstrasio