Ford Vietnam will invest an additional 1.9 trillion VND (82 million USD) in expanding its automobile assembly and production factory in Hai Duong province.
A corner of Ford Vietnam's automobile assembly and production factory in the northern province of Hai Duong. Photo cafef.vn
This amount brings its total investment capital to 184.7 million USD in the expansion project.
Under a decision allowing the Ford Vietnam’s expansion plan signed by the provincial People’s Committee, 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.