Ford signs agreement with Soviet Union - May 31, 1929 - HISTORY.com

After two years of exploratory visits and friendly negotiations, Ford Motor Company signs a landmark agreement to produce cars in the Soviet Union on this day in 1929.

The Soviet Union, which in 1928 had only 20,000 cars and a single truck factory, was eager to join the ranks of automotive production, and Ford, with its focus on engineering and manufacturing methods, was a natural choice to help. The always independent-minded Henry Ford was strongly in favor of his free-market company doing business with Communist countries. An article published in May 1929 in The New York Times quoted Ford as saying that “No matter where industry prospers, whether in India or China, or Russia, all the world is bound to catch some good from it.”