Home > Community > China Biz > Ford to move Asian HQ from Thailand to China

Ford to move Asian HQ from Thailand to China

Published: 21 Jun 2009 17:32:52 PST

Top 5 News From ChinaKnowledge.com

Jun. 22, 2009 (China Knowledge) - U.S.-based Ford Motor Co, the world's fourth largest auto maker, on Thursday said it plans to move its Asia-Pacific headquarters and Africa regional headquarters from Thailand to China, the Wall Street Journal reported.

The company said it has not yet selected a city. However, Ford is likely to move its senior executives to Shanghai, according to the paper.

Ford may keep its major businesses, along with its regional headquarters for the 10 nations that make up the Association of Southeast Asian Nations (ASEAN), in Bangkok.

Thailand will continue to serve as the ASEAN regional headquarters, and its leadership team and supporting corporate functions will continue to be based in Bangkok, Ford spokeswoman Whitney Small said in a statement, adding that additional centers of excellence will be established around the region.

China's vehicle sales volume is likely to exceed that of the U.S. this year. The country's vehicle sales jumped 34% year on year to hit 1.12 million units in May, mainly boosted by government stimulus measures, including tax-cuts on small car purchases and subsidies for rural residents.

Changan Ford Mazada Automobile Corp Ltd (CFMA), Ford Motor Co's Chinese venture with Chongqing Changan Auto Co<000625><200625>, earlier said its monthly vehicle sales rose 48.7% year on year to 27,839 units in May from 18,727 units in 2008.

Copyright © 2009 www.chinaknowledge.com