Ford India broke ground today for its new, state-of-the-art integrated manufacturing facility in Sanand, Gujarat.
As part of its aggressive growth and expansion in Asia, Ford is investing approximately USD 1 billion to build new vehicle manufacturing and engine plants in Gujarat. The new manufacturing facility will create 5,000 jobs, and will be able to initially produce 240,000 cars and 270,000 engines per year. The first vehicles and engines are scheduled to come off the line in 2014.
“This is an investment in the future of Ford globally. These new state-of-the-art facilities will help us reach the goal of increasing worldwide sales by nearly 50 percent by mid-decade to 8 million vehicles per year. We are aggressively expanding in markets around the world that have the most growth potential, in order to offer more of the fuel-efficient, high-quality vehicles from our global portfolio that customers in markets like India want and value,” Joe Hinrichs, president, Ford Asia Pacific and Africa, said.
Ford currently has one plant in the south Indian city of Chennai, which has a capacity to make 200,000 cars and 250,000 engines a year. It is investing $72 million to raise capacity for engines in Chennai to 330,000 by next year. The company makes and sells the Figo hatchback, Fiesta and Fiesta Classic mid-size sedans and Endeavour sport-utility vehicle in India.
Ford’s total investment in India till date is $2 billion.
Also see – Ford India Announces Rs.4000 Crores Plant in Gujarat