Ford India plans to invest Rs.750 crore in Chennai facility to launch EcoSport SUV
Ford India, one of the fastest growing car makers in the Indian auto market, is planning to invest heavily in its India operations to roll-out new products and expand its dealership network. The company has planned-up to invest Rs.750 crore in its facility near Chennai to launch new compact sports utility vehicle EcoSport, which is scheduled to be launched in the country in year 2012.
In a recent statement, the Tamil Nadu government has said that Ford India's President and Managing Director Michael Boneham, informed Chief Minister J. Jayalalithaa, about the company’s decision, during his meeting with her on Friday.
The new investment in the state will create employment for as many as 400 people in the state. As per the government, the total investment of the car maker Ford India in Tamil Nadu had gone up to Rs.1,130 crore, after the Minister J. Jayalalithaa led AIADMK government came to power.
So far, the company has invested a sum of around Rs.4,500 crore in the Indian auto market to set-up its engine manufacturing and assembly plant, along with rolling-out car models like compact hatchback Figo, sedan Fiesta Classic and sports utility vehicle Endeavour. The company has also planned-up to invest Rs.4,000 crore to set-up its second manufacturing plant in Gujarat.
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