Ford To Open A New Global Technology And Investment Centre In Chennai
Follow us on
Highlights
- Ford will invest Rs. 1,300 crore in the new facility
- It will be a hub for product development, mobility and business solutions
- The 28 acre facility in Chennai will be operational in early 2019
(The Ford EcoSport Facelift launch is on the cards as well)Ford said that it will be working on products new from scratch once this facility is operational but comments that it is too early to comment about the products and the segments in which Ford wants to operate. The domestic market will continue to be the priority when the new facility is up and running although, Ford might look to export products to new markets too. The new facility in Chennai will be a playing a key role in new product development for Indian market. The current platforms in India will be used for exports as well. Ford also said that India will not only be a manufacturing hub for small cars but will export bigger cars as well, in the near future.
At present, Ford has a domestic market share of 3.1 per cent in India and it has set itself a target of having at least 5 per cent market share over the next 3-4 years.
Ford's executive chairman William Clay Ford (JR), visiting Chennai for the announcement said "The Chennai facility will become Ford's second-largest centre of employment globally after Dearborn in the United States of America. India is not only a vibrant market for cars and new mobility ideas, it also is rich with talent, technical expertise and ingenuity"
(Ford will invest Rs. 1,300 Crore in a new Technology and Investment Centre in Chennai)Earlier inundefined undefinedSeptember 2016 at the Ford Investor Day in Dearborn, Mark Fields, President and CEO, Ford Motor Company, said, "Ford is taking a new look at how to lead in select emerging markets. The company sees Russia and South America positioned for recovery, ASEAN remaining profitable and a path to profitable growth in Middle East and Africa. As it pushes for a path to profitability in all emerging markets, Ford is re-evaluating its strategy and business model for India."
Currently Ford has 2 plants in India - in Chennai and Sanand with a total annual capacity is about 4.40 lakh units. In the current fiscal's April-September 2016 period, the company has sold a total of 46,422 units and exported 73,821 units.
Related Articles
Ford To Resume Vehicle Manufacturing In India; To Export Cars Built In Chennai
Ford Mulls India Return, Holds Talks With Tamil Nadu CM
Ford Signs Reigning Champion Carlos Sainz Sr To Lead Its Dakar Rally Program In 2025
Ford Patents Mobile Gaming Simulators With Built-In Projectors in EV
Ford EcoSport With EcoBoost Engine Recalled In The US For Oil Pressure Issues
Latest News
Honda EV Fun, Urban Electric Two-Wheeler Concepts Showcased
Royal Enfield Goan Classic 350 Launch On November 23
2025 Kawasaki KLX 230 Sherpa Introduced In Japan
Porsche Taycan Line-Up Expanded With New GTS Trim; Total Versions Now Up To 16
KTM 890 Duke R, 890 Adventure R, 1390 Super Duke R EVO Launching On Nov 14
Passenger Vehicle, Two-Wheeler Sales Hit New High In October 2024: SIAM
Toyota Glanza, Urban Cruiser Taisor, Hyryder Special Editions Launched Featuring Toyota Genuine Accessories
Honda Gold Wing Tour Recalled In India To Address Potential Powertrain Fault
2025 Maruti Suzuki Dzire: 5 Features That Are A First For Dzire
EICMA 2024: Aprilia Tuareg 660 Rally Unveiled
- Home
- News
- Auto Industry
- Ford To Open A New Global Technology And Investment Centre In Chennai
