The second biggest U.S. car maker, Ford Motor Company, says it is again expanding its manufacturing operations in China.
Ford said Thursday it plans to build a $760 million factory in Hangzhou in eastern China, part of the automaker’s largest expansion in 50 years. Just two weeks ago, Ford said it is also building a new $600 million assembly plant in Chongqing, after already completing another factory there.
The car manufacturer is attempting to increase its production and sales in Asia where other auto manufacturers are dominant.
When the Ford’s Chinese expansion is completed in 2015, it hopes to annually produce 1.2 million passenger cars there, not quite half what it built last year in North America.