Ovations, wave of new dealers mark Ford CEO's retirement

Ford's first gearbox plant in the Asia-Pacific region, it is designed to produce 400,000 transmissions a year, some of them to equip Changan Ford's popular models like the Focus and Mondeo, according to the company.

A factory capable of assembling 300,000 a year, also in Chongqing, is expected to be operational in months, making the metropolis Ford's largest production base outside the US.

"The business in Chongqing is crucial to our development," Mulally told China News Service, adding it will help Ford fulfill its 1515 plan.

A plant in Hangzhou designed to produce 250,000 vehicles a year is expected to start operation in 2015.

The enlarged capacity is expected to further drive Ford's sales in the world's largest auto market in the next few years.

John Lawler, chairman and CEO of Ford Motor China, predicted earlier this year Ford will sell 1 million vehicles in 2014. The goal is possible, said an independent auto analyst surnamed Hu.

Ford sold more than 930,000 vehicles in China in 2013, nearly of them 680,000 were made at Changan Ford's assembly plants, making the joint venture one of the fasting-growing automakers in China.

If realized, it would be a fitting tribute to Mulally's efforts over the past years, he said.

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