Ford Announces Export Agreement With China

Ford Motor Company will begin exporting additional automotive products and transmission parts to China, thanks to agreements signed in Washington, D.C., today.
The total value of the pact is estimated to be more than US$800 million.
In one of the company’s largest export agreements, Ford will sell more than 30,000 North American-built vehicles in China, starting in 2009.
Ford also will begin supplying transmission components and parts this year to its passenger car joint venture in China — Changan Ford Mazda Automobile Co., Ltd.
“This historic export agreement with China is another step in our commitment to accelerate the development of new products that customers want and value and leverage Ford’s global assets,” said Alan Mulally, president and CEO, Ford Motor Company.
“It solidifies the worldwide appeal of our products in delivering personal transportation to markets from Boston to Beijing,” Mulally added.
“It also is good news for the Ford teams that assemble these products and components in both the United States and Canada.”
Chinese government officials were joined by senior Ford management for a signing ceremony of the vehicle export contract conducted at the United States Chamber of Commerce in Washington, D.C.
The Chinese delegation was led by vice premier Wang Qishan, minister of commerce Chen Deming and vice minister of commerce Ma Xiuhong.
Ziad Ojakli, Ford’s group vice president for government and community relations, and Stephen Biegun, Ford’s vice president for international governmental affairs, represented the company in the signing ceremony.
Ford Motor China recorded sales of 90,791 passenger cars and commercial vehicles in the first quarter of 2008, a 47 percent increase over the same period last year.
With the new Ford Fiesta to be launched by the end of this year, Ford’s product offering in China will cover a range of vehicles from small cars to SUVs to the light bus segments.
Full details of the vehicles to be exported beginning in 2009 will be announced later.