Ford to Expand Production in Russia
From Bloomberg News
Ford Motor Co., the world’s second-largest automaker, said demand in Russia for foreign-brand cars is soaring by as much as 40%, prompting the carmaker to expand production at its Russian plant by one-fifth next year.
Ford’s factory near St. Petersburg, Russia, will build 21,000 vehicles in 2004 compared with 17,000 units planned for this year, said Henrik Nenzen, Ford president for Russia.
Ford, based in Dearborn, Mich., opened a $150-million factory in Vsevolozhsk, near St. Petersburg, last year in an effort to reduce prices inflated by import duties.
From Bloomberg News
