Ford To Invest Rs 1,300 Crore In India — It’s Second Largest Setup

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Ford Motor Co. has announced to invest Rs 1,300 crore over the next five years in a technology and business center in Chennai, India.

The company will use the facility to develop new products, design mobility solutions and provide business services.

Ford has already invested in the country will hire 3,000 people and bring in 9,000 from other centers in the southern Indian city to staff the new facility.

The new facility from Ford is said to be operational from 2019, the company said in a statement on November 8, 2016.

The company is focusing on emerging markets like India where small yet powerful and inexpensive cars are popular. These are dominated by brands from Maruti Suzuki and Hyundai Motor Co.

Ford's new facility will be its second largest technology center outside its global headquarters which will include laboratories and testing facilities for vehicles and components, to enable the company to test future products in India.

Global car manufacturers are looking for a bigger share of thepie in the Indian auto industry as it is expected to become the world's third largest market by 2020.

Bill Ford, executive chairman of Ford said that India is not only a vibrant market for cars and new mobility ideasbut also is rich in talent, technical expertise, and ingenuity.

Read more on: #ford #auto news
Story first published: Tuesday, November 8, 2016, 18:34 [IST]
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