Ford to build plant in China

Ford to build plant in China

SHANGHAI: Ford Motor Co.'s plan to build a third auto plant
in China with the cooperation of Japan's Mazda Motor reflects
foreign carmakers continued ambitions in the world's fastest
growing market.

The deal signed on Thursday means that Ford is moving ahead
with its previously announced US$1billion expansion in China as
it seeks to catch U.S. rival General Motors Corp and Germany's
Volkswagen AG.

The three-way agreement, which includes China's Chongqing
Changan Automobile, is further evidence that China is the most
important battleground for the world's auto giants despite
mounting evidence of slowdown. -- AFP