Ford's connections in India are growing far beyond the announcement that Tata is the preferred bidder to purchase Jaguar and Land Rover. Ford announced today that it would also be investing another $500 million in India to double its manufacturing capacity by 2010 and establish itself as a leader in one of the biggest growth markets in the world.
FoMoCo's total investment in India will grow to over $875 million with the new funds, and will pay for the development and production of a new small car at its plant in Chennai with an engine plant next door. Within the next two years, Ford plans to have an annual production capacity of over 250,000 gasoline and diesel engines in India, along with making its Indian operations a leader in small car production.
[Source: NYTimes]
FoMoCo's total investment in India will grow to over $875 million with the new funds, and will pay for the development and production of a new small car at its plant in Chennai with an engine plant next door. Within the next two years, Ford plans to have an annual production capacity of over 250,000 gasoline and diesel engines in India, along with making its Indian operations a leader in small car production.
[Source: NYTimes]
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