Ford's Russian JV to invest $274 mln in new engine plant
FRANKFURT May 14 (Reuters) - Ford Sollers, the Russian joint venture of U.S. carmaker Ford, said on Tuesday it will invest $274 million to build a new powertrain plant in Tatarstan, expected to employ some 500 workers.
The factory will be based in the Russian republic's town of Elabuga where the JV already produces vehicles, and it will manufacture three different versions of the 1.6 litre Duratec engines from December 2015.
Formed in late 2011, the JV operates three assembly plants in Russia. In 18 months, Ford Sollers has advanced from building just two cars - the Focus and Mondeo - to seven today, including the Galaxy, S-MAX, Transit, Kuga and Explorer.
- French warplanes search Mali desert for crashed Air Algerie plane |
- At least 15 killed by shelling of Gaza school; toll exceeds 760 |
- Exclusive: Ukraine rebel commander acknowledges fighters had BUK missile
- U.S. House panel votes to authorize lawsuit against Obama
- Lawyers call for outside probe of 'bungled' Arizona execution |