Ford India has launched its small car Figo today at a function in New Delhi. The car was unveiled by Alan Mulally, president and CEO of Ford Motor Company.
Ford Motors will start the production of the Figo in India in early 2010. The company has invested $500 million at a plant in Chennai and has said the plant was gearing up for production of a small car.
The Ford Figo is a four-door hatchback that will be powered by an indigenous diesel and petrol engine manufactured at its Chennai plant. Ford said the Figo - which is colloquial Italian for "cool" - will be sold in India and exported to international markets.
"Our exciting new Ford Figo shows how serious we are about India," Mr Mulally said. "It reflects our commitment to compete with great products in all segments of this car market. We are confident the Ford Figo will be a product that Indian consumers really want and value."
Ford Motor Company is the only American auto company that survived the downturn without a government bailout. At present the car company is planning to integrate car designs globally and develop compact and mid-sized cars as part of a strategy to improve profitability and productivity.