Ford pours more investment into Vietnam

Ford Vietnam said it spent some 4 million USD in Vietnam in the first quarter of this year and plans to inject more money toward the year-end, the Saigon Times Daily reported on May 21.

Thursday, May 22, 2014 16:28

Ford Vietnam said it spent some 4 million USD in Vietnam in thefirst quarter of this year and plans to inject more money toward theyear-end, the Saigon Times Daily reported on May 21.

Jesus MeteloArias, General Director of Ford Vietnam, told reporters in Ho Chi MinhCity that the 4 million USD went to expansion of the company’s factoryin the northern province of Hai Duong province. Of which, around 3million USD was spent on an assembly line for EcoSport, which is asmaller SUV (sport utility vehicle) model of Ford.

EcoSport iscurrently manufactured at Ford’s factory in Rayong, Thailand for theThai market and other countries in Southeast Asia.

The additionalinvestment has helped raise the annual output capacity of FordVietnam’s factory in Hai Duong to 9,000 units from 8,000. Around 180technicians were employed for the facility in the first four months ofthis year.

Ford has invested around 140 million USD in Vietnam.Arias said the company has plans to pour several more million US dollarsinto this market but did not provide an exact figure.

The Daily said a reliable source put the planned extra investment of Ford Vietnam at 3 million USD.

Inthe first four months of this year, For Vietnam sold 3,360 units, up51% year-on-year. Last month, the company recorded its best businessperformance ever in Vietnam with 939 units sold, up 37% over the sameperiod last year and its market share rising to 8.3%.

Ariasexpected Ford Vietnam could achieve better business results if theEcoSport model was launched in this market in the middle of 2014.-VNA

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