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Ford Motor Company will invest up to $250 million in the production of new car models in Russia
Ford Motor Company will invest up to $250 million in the production of new car models in Russia, the Economic Development and Trade Ministry said Tuesday. The decision follows the U.S. multinational's signing of an investment agreement Monday on the assembly of Ford Mondeo cars and Maverick cross-country vehicles in Vsevolzhsk in northwestern Russia. "The planned volume of additional investment under the project will amount to $250 million," the ministry said. After the Vsevolzhsk facility reaches its designed capacity, it will produce 30,000 Ford Mondeo and 20,000 Ford Maverick vehicles. The enterprise also intends to raise the output of Ford Focus cars from the current 60,000 to 100,000. Ford has so far invested about $230 in the Russian project
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