American carmaker Ford, has been a strong brand across global markets. In its ever growing passion for success the brand aims to further strengthen its position by investing more time and efforts in improving its research and development centres. Ford India has reportedly planned on investing an additional Rs. 4,000 to Rs. 5,000 crore for developing its R&D centre in Chennai.
As stated by sources, Ford India's Global CEO, Mark Fields expressed company's interest on increasing product development capability in the country. Fields said, “There's a tremendous engineering talent here, and we want to tap into that and grow our product development capability here methodically over a period of time.” Commenting more on the occasion Ford India spokesperson said, "As for future projects and investment, we have nothing to announce."
The company is reportedly in talks with the Tamil Nadu government that is expected to be signed in the coming months. Ford India is likely to give out more details in this regard sometime in the second half of this year. The new Research and development center would be utilized for the production of mid-sized sedan codenamed B500. The vehicle is expected to emerge as a strong contender against the likes of Maruti Suzuki Ciaz and Honda City.
Source: ETA
