Ford Automobile recently held a technology research event at its automobile research facility in Chongqing. It is planning to invest three billion yuan in establishing a new research and development centre.

According to Ford Automobile, its new research site in Chongqing is scheduled to expand to employ over 10,000 members of staff by 2020. The three billion yuan the manufacturer is investing in the site is just a drop in the barrel of its total R&D investments. The manufacturer stands by its plan to direct five percent of its revenue towards R&D.

It is reported that the next three years are crucial for Ford according to its 2020 Strategy. In its previous five-year plan the manufacturer invested approximately 16 billion yuan in R&D. That figure looks to surpass 20 billion yuan in its next five-year plan. 20 percent of the manufacturer's total R&D expenses are focused on preliminary research.