Ford Motor Company expects sourcing for parts and components from China to reach $1bn by the middle of next year and it can rise to more than $10bn by mid-decade, as part of its overall drive to cut costs.
The Ford Company currently expands its manufacturing facilities in China and attracts suppliers.
Ford spends about $90bn a year on purchasing, of which about two-thirds is spent on procuring parts and components for vehicles. So for the company $1bn will be a significant saving.
Ford's restructuring plan is based on typical annual car sales of about 16m, against about 17m of sales volume for the industry this year.
There are several versions of the recent assassination of the most prominent Iranian nuclear scientist and high-ranking officer of the Islamic Revolutionary Guard Corps, Mohsen Fakhrizadeh