Ford's China partner to invest in new pickup

Newswire

SHANGHAI, Dec 22 (Reuters) - Jiangling Motors Co. Ltd. , a Ford Motor Co.'s partner in China, said on Friday its board has agreed to invest 598 million yuan ($76 million) to develop a new pickup truck. Jiangling, in which Ford holds a 30 percent stake, will take three years to develop the project, with a target annual output of 50,000 pickups named N350 per year, it said in a statement. The company will fund the project with its internal resources, it added. The board also approved ...

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