Zaman - US auto maker Ford has geared up to revamp its product line with 20 new or updated models over the next three years, investing heavily in its European plants.
According to the investment strategy unveiled by the company’s European division, Ford plans to increase production capacity in its Turkey plant to 400,000 vehicles per year and start the development of a new light commercial vehicle model.
“2011 is the year of investment for commercial vehicles,” Ford Otosan’s General Manager Nuri Otay said about the investment plans in the Turkish-US joint venture’s Kocaeli plant in northwestern Turkey. “Last year we launched a USD 630 million investment program for the Transit Connect model, and we recently decided on a new investment worth EUR 205 million,” he said.
Ford Otosan’s research and development center in Kocaeli will be utilized for the design of a new light commercial vehicle, Otay added, thereby increasing the total investment to USD 1 billion. Ford Otosan’s current capacity of 330,000 vehicles per year will reach 400,000 with the scheduled investments.