DEARBORN, Mich. (AP) -- Ford Motor Co. says a Chinese joint
venture will spend $350 million to build the company's first
transmission plant for the world's largest auto market.
The company says the factory in Chongqing (Chong-CHING) will be
able to build 400,000 six-speed automatic transmissions. It will
make them for Changan Ford Mazda Automobile Limited, the Chinese
Ford has a relatively small presence in fast-growing China but
says the plant is part of its growth plans.
The company says construction will start in July and production
will begin in late 2013.
Ford also is building a $500 million engine plant in Chongqing
that will open in two years.
China's auto market last year overtook the U.S. as the world's
largest. Sales rose 32 percent last year to over 18 million
(Copyright 2011 by The Associated Press. All Rights Reserved.)
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