Ford starts operation at new $510 mln China plant
SHANGHAI (Reuters) - Ford Motor Co said on Monday its new $510 million auto manufacturing plant in east China has started operation, boosting its car production capacity in the country to more than 410,000 units.
The facility, based in the city of Nanjing, near Shanghai, has an initial annual production capacity of 160,000 units.
The plant is owned by Changan Ford Mazda Automobile, a tie-up linking the second-largest U.S. automaker with Chongqing Changan Automobile Co and Mazda Motor Corp.
Changan Ford Mazda already operates a car plant in southwestern China with annual capacity of 250,000 units, making the mid-sized Focus sedan as well as S-MAX, Mondeo, Volvo S40 and Mazda3 models.
The new plant will make small cars carrying Ford and Mazda badges.
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The BSE Sensex ended up slightly on Monday after rising to a record high for a third consecutive session as strong foreign buying continued to boost domestic-focused shares such as those of HDFC Bank, but momentum waned as exporters slumped on a stronger currency. Full Article