The Detroit firm wants to further increase its presence in the country and has announced the signing of an MoU (Memorandum of Understanding) with the State of Gujarat to invest approximately $1 billion to build two new plants in addition to the one in Chennai, for vehicle and engine manufacturing on a 460-acre site in Sanand.
“These are exciting times for Ford in India,” said Michael Boneham, president and managing director of Ford India. “We are investing in the future and reinforcing our long-term commitment to India by building two new plants in Gujarat and by adding the new Fiesta to our portfolio. The new Fiesta is the first of eight new vehicles we will bring to India by mid-decade”.
Ford India was established in 1995 and is owned by Ford Motor Company. Until now it operates one factory in Maraimalai Nagar, near Chennai, which produces the Figo, the Fiesta Classic, the Endeavour and the new Fiesta which was launched in April this year.
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