Ford to Build Its First Transmission Plant in China

Ford F, together with its partners in China, is building its first transmission plant in China to support Ford's aggressive growth plan in the world's largest auto market. Ford's passenger vehicle joint venture in China, Changan Ford Mazda Automobile signed a Memorandum of Understanding today for the transmission plant project with the Chongqing Municipal Government.  The plant, with an initial investment of US$350 million to be entirely funded by CFMA, will produce advanced fuel-efficient 6-speed automatic transmissions with an initial annual capacity of up to 400,000 units, supplying Ford brand vehicles produced and sold locally by CFMA. "This transmission plant investment represents yet another important milestone in Ford's accelerated growth plan for this important market," said Joe Hinrichs, president of Ford Asia Pacific and Africa.  "Together with prior investments announced in the past few years, this new plant demonstrates Ford's unprecedented commitment to the China market and how we are leveraging advanced global technologies to support Ford's aggressive plan to introduce 15 brand new vehicles to China by 2015."