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Ford to Invest $1.8 Billion in China for Product R&D
Ford Motor Co. plans to spend 11.4 billion yuan ($1.8 billion) in China over the next four years to develop advanced connectivity and technology for self-driving cars.
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Ford Motor Co. plans to spend 11.4 billion yuan ($1.8 billion) in China over the next four years to develop advanced connectivity and technology for self-driving cars.
Much of the investment will be in Ford's research and engineering center in Nanjing. The 8-year-old facility also is adding extensive vehicle test capabilities and expanding labs devoted to powertrain, electronics, materials and manufacturing innovation.
CEO Mark Fields says investments will target next-generation Ford vehicles developed specifically for the Chinese market. Next year Ford will introduce plug-in hybrid variants of its C-Max MPV and Mondeo sedan in the country.
The company estimates that more than 1 million of its vehicles in China will be equipped with Ford's Sync in-car connectivity feature by year-end. The redesigned and faster Sync 3 system is due in 2016. Fields says Sync 3 will be the first factory-installed system in China to support Tencent's new Chelian in-car app, which drivers can use to access messaging, music, streaming radio and real-time traffic report services.
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