61388
Ford to open several dozen Lincoln branded showrooms in China.
Ford to open several dozen Lincoln branded showrooms in China.

Ford to Produce Luxury SUVs in China

Ford to Produce Luxury SUVs in China

Ford Motor Co’s luxury unit Lincoln plans to produce luxury SUVs in China by late 2019, as it steps up its move into the world’s largest auto market and aims to catch up with German and US rivals who already manufacture in the world’s second largest economy.
The plan is to build an all-new sports utility vehicle (SUV) to suit Chinese tastes, Lincoln China said in a statement. Ford plans to use an existing assembly plant it jointly operates with Chongqing Changan Automobile Co Ltd to produce the Lincoln vehicles, a Ford spokesman in Shanghai said, Reuters reports.
Lincoln vehicles are currently imported into China, and their sales have jumped nearly 180% in 2016, the statement said.
“The move to local production is a key next step in Lincoln´s evolution in China and will complement continued imports from North America,” it said.
The statement gave no other details about the plans. The Ford spokesman declined to give the model’s anticipated production volume or describe the model other than to say it is an SUV.
The Changan-Ford joint venture is in the process of getting approval for this move to produce Lincoln vehicles locally in China, said the spokesman.
Lincoln China President Amy Marentic told Reuters in October that the brand was studying whether to produce cars locally in China.
Lincoln was accelerating its entry into China with plans to have 65 Lincoln stores by the end of 2016, instead of previous plans of 60, with 80 planned for year-end 2017, she said.
Marentic said the company would also open five to 10 smaller sales branches to tap into fast-growing auto sales in lower-tier Chinese cities.

 

Short URL : https://goo.gl/LemC29
  1. https://goo.gl/gYKglC
  • https://goo.gl/V5ClPh
  • https://goo.gl/4ATTbR
  • https://goo.gl/rD8zQo
  • https://goo.gl/nxmjJi

You can also read ...

Iran is the world’s biggest saffron producer and accounts for more than 90% of the global production.
Iran Mercantile Exchange launched saffron futures trading for...
Uber Plans Taxi-Hailing  in Japan
Uber Technologies plans to launch its first taxi-hailing pilot...
Tesla Admits Model 3 Braking Issue, Promises Fix
Tesla Inc’s Chief Executive Officer Elon Musk admitted on...
New Rules Allow  Direct Forex Sale
Businesspeople that have validated their purchase orders are...
German firms, especially those without business links to the US, want to continue their Iran business.
While Germany’s big banks are studiously avoiding Iran-related...
Stocks’ Rollercoaster Ride With JCPOA
Tehran's stock market is no stranger to systematic risk...
Iran Khodro Expanding Presence in Iraqi Market
Iran’s largest carmaker, Iran Khodro, is set to export 6,000...
Banking Amendments Approved
The Money and Credit Council approved the Central Bank of Iran...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus