Ford Set to Surpass Hyundai in China This Year
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Ford Motor Co. will open its fourth passenger-car assembly plant in China today as part of a $4.9 billion expansion drive, putting it on track to overtake Hyundai Motor Co. in the world’s largest auto market.
With the new plant, Ford will be able to produce 1.4 million passenger vehicles a year in China, according to Chief Executive Officer Mark Fields. That compares with 1.05 million at Hyundai, according to company data. In China, the Dearborn, Michigan-based Ford was the fifth-ranked foreign automaker by sales behind Volkswagen AG, General Motors Co., Nissan Motor Co. and Hyundai.