Report: Ford to launch new brand in China

According to reports, Ford is scheduled to launch an all-new brand in China to comply with state regulations as it aims to accelerate growth in the country.

Apparently, the Chinese government rules demand that joint venture companies must develop a new home-brand if they want to build new vehicles in China. Ford will develop the new unnamed brand with its joint venture partners Mazda and Chang’an motors.

The cars will be launched in the next three years. ford has plans to build four new plants in the country by 2015.

Ford aims to sell 8 million vehicles worldwide by 2015, up from 5.3 million in 2010. It sold 580,000 units in China last year.

The Dearborn automaker has plans to sell its luxury brand Lincoln in China as well.

– By: Omar Rana

Source: AutoCar