Ford Breaks Ground on New Factory in Hangzhou, China

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has broken ground on a new $760 million factory in Hangzhou, China, that will have an initial capacity of 250,000 vehicles per year. When the factory is finished in 2015, Ford will build 1.2 million cars a year in China. Since 2006, Ford has invested $4.9 billion in China.

Ford has seven factories simultaneously under construction in Asia Pacific region, and two that are finished. Ford just broke ground on a new engine factory in Chongqing on Monday August 27. 

“This new plant is an important part of our aggressive plan to bring 15 new vehicles and 20 new powertrains to China by 2015, giving customers here even more choice in Ford’s next generation of high-quality, fuel-efficient, fun-to-drive vehicles," said Dave Schoch, head of Ford China. 

Ford's goal is to sell 8 million cars globally each year by 2015.