HANGZHOU, China (TheStreet) -- Ford (F) and its joint venture partner said Thursday they will build a $760 million assembly plant in Hangzhou, bringing Ford's investment in China since 2006 to $4.9 billion.
The Hangzhou plant, built with Changan Ford Mazda Automobile, would open in 2015 with an initial production capacity of 250,000 units.
Continuing rapid expansion in China means that when Hangzhou opens, Ford's passenger car capacity in China will total 1.2 million units annually, doubling its current capacity.
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