China’s economic condition does not look very rosy. Despite this, U.S. transportation giants such as Boeing and Ford have made their foray into China and are ready to expand their business and grow in Asia’s largest economy. The transportation industry in China has already reached its zenith and is the world’s largest auto maker and manufacturer today. As the number of airports keeps adding up, commercial airlines are rushing to add air routes to this country. Going by the opportunities available in this lucrative region, world-renowned companies like Ford and Boeing are venturing into China to gain maximum advantage.
Lincoln Gains Sales in China
Chinese consumers have a distinct fondness for foreign cars and major luxury car brands are already present in the market. It is also the fastest growing market for Ford’s Lincoln. According to the brand, in 2016, Lincoln sold 32,559 vehicles in China, thrice the sales in 2015. By the end of 2019, Lincoln is expected to launch an all-new SUV in China and will be sold exclusively in the country. The brand new SUV is reported to be built in Chongqing and will be ready to give stiff competition to other luxury car brands such as Mercedes-Benz, owned by Daimler. Ford’s presence in the country is growing manifold and has resulted in 65 dealers across China in 2016.
Boeing to Give Wings to Chinese Economy
Boeing has finally decided to build its first offshore aircraft plant in China. The brand has come to this decision after facing pressure from state-subsidized foreign competitors. As per reports by the Chinese state media, Boeing will focus on delivering 100 planes per year, with the initial batch expected in 2018. The economic progress of China in the recent past has been instrumental in bringing Boeing to its shores. According to Boeing, the primary aim of the new factory will be to complete the company’s popular commercial 737 aircraft’s interior and exterior, along with the delivery to Chinese customers. The new plant is said to be a joint venture with the state-owned Commercial Aircraft Corporation of China and will be located in Zhoushan. Over 2,000 jobs are reported to be created through this venture.