Ford Motor to Spend $1.8 Billion in China Over Next Five Years

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Ford Motor Co. said Monday it will invest 11.4 billion yuan ($1.80 billion) in China over the next five years to deliver accessible innovations.

Company executives said they hoped the innovations such as autonomous driving, ridesharing and fuel-efficient vehicles will help Ford continue to grow its business in the world’s largest market for cars, where it has doubled manufacturing capacity in the past five years.

“We think it’s a great opportunity to grow not only our core business of selling cars and trucks, but also provide services to people that may not want a car but still want to be mobile,” Chief Executive Mark Fields said on the sidelines of an event in Shanghai.

 

 

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