Ford India Pvt. Ltd, a wholly-owned subsidiary of global auto major Ford Motors is planning to invest $500 million to set up a small car production facility and an engine manufacturing unit in India by 2010 to compete more effectively in the fast-growing market.
During the launch of new Ford Fiesta 1.6S Nigel E. Wark, executive director (marketing, sales and service), Ford India said,” The investment is a part of company's capacity expansion plans in India. The production capacity of the unit would be doubled to 2,00,000 annually.
Ford came to India in 1995 and since then it has sold 65,000 vehicles in the country. The company is now expecting a good market for the newly launched range of the Ford Fiesta.