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Ford Motor Company has announced plans to purchase over US$1 billion worth of automobile parts in China over the next year.
Nick Scheele, Ford president and chief operating officer, said that the purchase, while part of Ford's strategy to maintain its competitive edge in the global market, will also increase Ford's market recognition in China's mainland and save the company money.
Kenneth Hsu, vice president of Ford Motor China said up until now Ford purchases up to 90 billion US dollars worth of auto partsannually worldwide, with only 0.2 billion US dollars worth purchased from China. Now, however, Ford has listed China as one of its principal parts providers, second only to the United States.
Ford Motor China set up an auto parts purchasing department in April this year.
Experts say that Ford's decision to increase its purchase of auto parts here demonstrates its satisfaction with the "Changan Ford Joint Venture" as well as its desire to expand business in this populous nation.
(Xinhua News Agency September 24, 2002)
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