Ford Motor is planning to invest more than $10 billion in India during the next four to five years to develop its local supplier base and help turn the Asian country into a global small-vehicle export hub, reports The Detroit News.
The investment will allow the automaker to buy more parts from Indian suppliers and increase production capacity in India amid ever-changing economic conditions and growing global demand for small, fuel-efficient cars and crossovers, according to the news report.
Eventually, Ford will export as much as 50% of its Indian production — or more than 200,000 vehicles — to more than 50 global markets.
Ford currently has an assembly and engine plant in Chennai, India. The plan can produce about 200,000 vehicles and 340,000 engines. The company is building an assembly and engine manufacturing facility in Sanand, India. The facility is scheduled to open in 2014 or 2015.
Source: The Detroit News
