News Summary: Ford cuts its own path in China
NO NEW BRAND: Ford Motor Co. is developing a lower-priced small car for the Chinese market but has no plans to start a separate, cheaper brand in China as rivals General Motors and Volkswagen have.
GROUNDBREAKING: Ford executives discussed their plans at the groundbreaking of a new assembly plant in the eastern city of Hangzhou. The $760 million plant, which is Ford's first plant on the populous east coast of China, is expected to open in 2015.
NEW WHEELS: Ford won't say what it plans to build there, but Ford China CEO Dave Shoch confirmed this week that a new small car similar to the Chevrolet Sail will be among the eight vehicles Ford is bringing to China by 2015.