Ford to invest $2bn in Chinese R&D programme

US automotive giant Ford is to invest nearly US$2bn in research and development in China, despite falling sales in the world’s biggest auto market, it announced yesterday. The company is to spend $1.8bn over the next five years building up its R&D capability in the country, mainly at its  existing engineering centre at Nanjing.
“With this investment in research and development, the next generation of Ford vehicles will be completely designed around our customers,” Ford’s president and chief executive officer Mark Fields said.
Ford sold 700,196 vehicles in China during the first eight months of 2015, down 1% year on year, amid an overall slowdown in the market due to weaker economic growth. It is already planning to launch two  two electric vehicle models in 2016.