The automotive giant opened a plant in Vsevolozhsk near St. Petersburg in July 2002, investing $150 million. The enterprise initially produced 25,000 cars per year.
Henrik Nenzen told an international car show that opened in Moscow Wednesday that the Russian market was promising and said he was certain that the company's sales would grow further.
Last year, Ford sold 60,654 vehicles in Russia, he said.
Nensen also said that Ford had managed to double sales in Russia in the first six months of this year to 48,840 cars.
The Russian Economic Development and Trade Ministry said on August 1 that Ford would invest up to $250 million in the production of new car models in Russia, including Ford Mondeos and Maverick cross-country vehicles.
After the Vsevolzhsk plant reaches its designed capacity, it will produce 30,000 Ford Mondeos and 20,000 Ford Mavericks. The Ford plant also intends to raise the output of Ford Focus cars from the current 60,000 to 100,000.
Ford has so far invested about $230 million in the Russian project.
