Mar 24th, 2008 by RJ Menezes
Ford has announced Friday that it has completely taken over complete control of Automobile Craiova for the sum of $80 million dollars as well as a promise to invest a further $1 billion in the future. The plant was formerly operated by Daewoo.
Ford execs say they plan to use the plant to boost production of a new version it’s popular Transit van line of vehicles. The plant will not only build the new van, dubbed Transit Connect, but also a new small car said to appear around 2010.
Ford plans to boost the plant’s annual production capacity to 300,000 units and double employment to 7,000. In 2006, Daewoo built only 24,000 vehicles there. This will not only have a positive impact on Ford’s future products but also it will boost the economy of the local region opening up jobs in that area.
John Fleming, president and CEO of Ford of Europe, said the Transit Connect will go into production in Craiova in mid-2009. The vehicle, currently built only in Turkey, would bring Ford’s assembly operation there to full capacity. On top of all this, Ford announced plans to begin marketing the Transit Connect in the U.S. in summer 2009.
Ford said it will continue building a handful of Daewoo vehicles through the end of 2008. After that they will be converting the factory to build the Transit Connect and Ford’s new small vehicle exclusively.
Above: Already a good seller in Europe, Ford hopes the Transit Van will catch on in the states as well…
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