HANOI (Reuters) - Ford Motor Co (N:F) said on Tuesday it is investing $82 million to expand its plant in eastern Vietnam to boost production capacity.

Ford Vietnam, established in 1995, said the expanded factory would boost the U.S. automaker's annual capacity in Vietnam to 40,000 vehicles from current volume of 14,000 units per year.

The company reported it sold 32,175 cars in 2019, up 31% from a year earlier.

The additional investment, which will bring the company's total investments in Vietnam to more than $200 million, will come in two stages over a two-year period starting this year.

Deputy Trade Minister Do Than Hai said he expected the expansion would reduce Vietnam's reliance on imported vehicles and therefore lower the country's trade deficit.

The construction will expand the facility across an additional 60,000 square meters of land, bringing the total area to 226,000 square meters.

Other relevant articles 
[2020-01-08 10:10:08] Outgunned, Iran invests in means to indirectly confront...
[2020-01-07 08:40:03] Burford Capital says U.S. class action lawsuit dismissed
[2020-01-06 14:40:49] Ford U.S. sales fall 1.3% in fourth quarter
[2019-12-30 21:10:23] Ford says reservations for its new electric Mustang are full
[2019-12-20 10:15:12] Standard Life Investments to manage smaller Woodford fund
[2019-12-17 19:05:04] Ford to invest $1.45 billion in two Detroit plants, add 3,000...
[2019-12-15 09:40:19] Crawford KOs Kavaliauskas, retains WBO welterweight title
[2019-12-13 15:40:12] Investors in collapsed Woodford fund to get half their cash in...
[2019-12-13 15:30:12] Ford recalls 547,538 Super Duty pickup trucks on post-crash fire...
[2019-12-10 01:00:31] Ford to nearly halve its 2018 before interest and taxes loss in...
[2019-12-06 17:40:11] In East Hartford, a new effort to help workers left behind
[2019-12-02 23:55:32] U.S. Senate set to confirm former Ford lobbyist as next energy secretary
[2019-11-22 18:40:12] EU to crack down on asset managers in 2020 after Woodford fund...
[2019-11-18 15:00:32] Stocks -  Ford, Uber, Coty Rise Premarket; Qudian, HP Slump
[2019-11-18 03:40:22] Ford bets on an electric Mustang to charge its turnaround
[2019-11-16 08:45:18] Fords UAW members vote to ratify new four-year contract
[2019-11-14 12:20:07] Ford to start taking reservations for electric SUV next week
[2019-11-13 16:30:09] Woodford analysis suggests investors may lose a third of their...
[2019-11-12 18:40:05] Former Republican Congressman Mark Sanford drops bid to challenge...
[2019-11-08 01:40:11] Trump nominates former Ford executive to be new U.S. energy...
[2019-11-07 11:00:15] Ford may consider making branded pickups in China if cities open...
[2019-11-07 01:15:12] BP invests in city transportation app Whim
[2019-11-06 22:40:09] U.S. DoJ demands Ford Focus, Fiesta documentsL Detroit Free Press
[2019-11-01 21:25:43] UAW union leaders recommend approval of Ford labor deal
[2019-10-31 21:15:12] Ford Avoids a Strike, While GM’s Suppliers Are Still Reeling
[2019-10-31 18:30:10] Ford plans to close engine plant in Michigan as part of UAW deal
[2019-10-31 04:45:09] Ford Reaches Pact With UAW on New Contract, Averting a Strike
[2019-10-31 02:25:13] Ford confirms tentative agreement, but declines further comment...
[2019-10-30 22:40:09] Ford shutters oldest Brazil plant as revival bid faces doubts
[2019-10-25 22:25:13] UAW to bargain next with Ford on new contract deal: sources
[2019-10-24 21:15:09] UK watchdog hits back at critics over Woodford fund
[2019-10-24 01:15:14] Ford cuts full-year profit outlook as third-quarter profit dips
[2019-10-20 19:50:20] 3 Stocks To Watch In The Coming Week: McDonald’s, Intel, Ford
[2019-10-17 17:10:08] Ford partners with Volkswagen, Amazon to build charging network...
[2019-10-16 08:45:08] Fate of second Woodford fund to be decided on Wednesday:...
[2019-10-15 10:25:03] Neil Woodford sacked as flagship Equity Income Fund to be shut
[2019-10-02 15:50:07] Ford U.S. sales fall 5% in the third quarter
[2019-10-01 14:55:03] Ford Gives Up Control in India After Struggling to Make Inroads
[2019-10-01 13:35:08] Ford forms JV with Mahindra for India business
[2019-09-28 08:40:22] NFL notebook: Lions QB Stafford questionable for Chiefs showdown
[2019-09-25 16:10:08] Ford self-driving cars to launch in Austin in 2021
[2019-09-25 14:15:08] Ford close to JV deal with Mahindra in India: sources
[2019-09-24 21:40:05] JPMorgan invests $25 million in fintech start-ups
[2019-09-23 19:10:33] Ford recalls 322,000 cars over battery fire risk: kfz-Betrieb
[2019-09-16 17:25:23] VW, Ford in talks to develop second electric car in Europe:...
[2019-09-13 17:30:34] Fords Dividend Yield May Be Extremely Attractive, But Is It Safe?
[2019-09-13 16:42:14] Ford in talks with German workers about Saarlouis job cuts
[2019-09-13 15:15:12] Ford recalls some Explorer SUVs after reports of hand injuries on sharp seat edges
[2019-09-13 12:25:11] Ford, GM rev up electric pickup trucks to head off Tesla
[2019-09-12 20:00:43] Woodford listed fund says corporate director to cut valuation in...
[2019-05-22 16:10:26] Ford partners with robots maker Agility Robotics in mobility...
[2019-05-21 19:40:19] VW truck brand to invest $344 million in Brazil after Ford exit
[2019-05-20 15:35:28] Ford Motor Co cutting about 10% of global salaried workforce
[2019-05-17 10:45:25] Nissan, Ford, VW led 0.5% April European car sales slide
[2019-05-15 16:30:14] Ford to build more Lincolns for Chinese market locally: CFO
[2019-05-15 15:20:20] Ford recalling 270,000 cars in North America that could roll away
[2019-05-09 14:15:17] Trade War Tops List of Global Risks, Oxford Economics Says
[2019-05-07 21:25:16] Ford plans to take medical transport venture nationwide
[2019-04-30 15:40:10] Ford reaches agreement with workers at Brazilian plant it plans...
[2019-04-26 15:40:24] U.S. opens criminal probe into Ford emissions certification
[2019-04-26 14:35:19] Stocks - Intel Plunges in Premarket, Exxon Sinks, Ford Surges, Amazon Rises
[2019-04-25 22:55:13] Ford first-quarter profit beats Wall Street view, more confident...
[2019-04-25 10:10:15] SoftBank invests in Alphabet business for cellphone antennas in...
[2019-04-25 04:40:12] SoftBank invests $125 million in Alphabet venture to put cellphone antennas in...
[2019-04-24 14:45:20] Tesla rival Rivian says Ford Motor invests $500 million in firm
[2019-04-23 18:55:20] Chinese tech giant Tencent invests in Argentine mobile banking...
[2019-04-23 12:10:21] Crypto Wrap: Bitcoin Rises After Easter Lull; Serena Williams...
[2019-04-18 07:55:14] Mahindra signs deal with Ford Motor to make midsize SUVs in India
[2019-04-17 17:25:23] Ford Motor forecasts $1 billion profit improvement at Michigan...
[2019-04-17 16:45:22] Ford Sees $1 Billion Boon From One Truck Plant Transformation
[2019-04-17 08:10:17] Nissan, Ford led March European car sales decline
[2019-04-17 03:15:15] NXP invests in Chinese self-driving technology company Hawkeye
[2019-04-09 16:25:09] Exclusive: Ford likely to end independent India business with new...
[2019-04-04 23:01:06] Franklin Templeton invests in Brazilian-Israeli fintech Weel
[2019-04-03 12:11:39] GM, Ford and Toyota join to advance self-driving testing, standards
[2019-04-03 11:30:21] Ford to launch more than 30 new models in China over next three...
[2019-04-03 09:55:14] Daimler, BMW to limit cooperation to affordable electric car in...
[2019-04-02 12:50:08] Ford Europe spending tens of millions on Brexit: chairman
[2019-03-30 19:20:21] Irving, Horford out Saturday for Celtics
[2019-03-30 18:40:31] Brazil automaker CAOA signs agreement with Ford over plant purchase: source
[2019-03-28 14:56:14] VW, Ford to develop pickup truck, continue talks on autonomous driving
[2019-03-15 14:15:26] Ford CEO Jim Hackett earned $17.1 million in 2018
[2019-03-13 17:55:18] Ford says cutting U.S. salaried jobs, doesnt say how many
[2019-03-12 17:25:09] Ford chairman praises CEO, mulls lithium venture
[2019-03-12 00:55:32] Olympus whistleblower Woodford wins London pensions lawsuit
[2019-03-11 06:45:28] Alibaba invests $693 million for stake in Chinese courier STO Express
[2019-03-11 06:00:35] Alibaba invests $693 million for stake in Chinese courier STO Express
[2019-03-10 02:35:23] NFL notebook: Packers, 49ers reportedly interested in Ford
[2019-03-06 12:55:14] Ford to revise Russia business plans by year-end: ministry
[2019-03-05 14:20:12] Ford discussing closure of two Russian plants: sources
[2019-03-04 14:50:39] Portugals EDP invests in cybersecurity firm Sepio Systems
[2019-02-27 15:55:27] VW praises Fords autonomous tech as partnership talks continue
[2019-02-27 12:40:22] Fords China JV to lay off thousands of workers: New York Times
[2019-02-27 01:05:25] Brazils CAOA in talks to buy Ford factory: source
[2019-02-25 12:25:29] Development bank EBRD appoints Oxford professor as new chief economist
[2019-02-25 12:00:40] Development bank EBRD appoints Oxford professor as new chief...
[2019-02-21 22:40:14] Ford investigating possible problems with fuel economy, emissions...
[2019-02-21 14:00:32] Fords Brazil shutdown highlights automakers woes with excess capacity
[2019-02-20 16:50:26] Steve Cohens venture firm invests in U.S. cybersecurity company
[2019-02-19 19:55:21] Ford exiting heavy truck business in South America