Thursday, December 12 2019

VietNamNews

Ford Vietnam adds $81.7m in automobile manufacturing expansion project

Update: November, 26/2019 - 16:35

 

A corner of Ford Vietnam's automobile assembly and production factory in the northern province of Hải Dương. The factory's capacity is expected to increase to 40,000 units from the current volume of 14,000 units per year. — Photo cafef.vn

 

HÀ NỘI — Ford Vietnam will invest an additional VNĐ1.9 trillion (US$81.7 million) in expanding its automobile assembly and production factory in the northern province of Hải Dương.

This amount brings its total investment capital to $184.7 million in the expansion project.

Under a decision allowing the Ford Vietnam’s expansion plan signed by Hải Dương authorities, the expansion of production will be divided into two stages.

The first stage will be completed and operational in the second quarter of 2020. The second one will come into effect in the third quarter of 2022.

The factory will assemble and manufacture various models of cars and spare parts, as well as supply maintenance and repair services. Its capacity will increase to 40,000 units from current volume of 14,000 units per year. — VNS

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