Ford India to invest US$1 billion in new facility in Gujarat
Ford India said it will invest about US$1 billion for the construction of a new vehicle manufacturing and engine plant at Sanand, in the state of Gujarat. Production is scheduled to begin in 2014. The American car maker said that the Sanand plant will be the first of seven plants that the company will build in India, Thailand and China. “These new state-of-the-art facilities will help us reach the goal of increasing worldwide sales by nearly 50% by mid-decade to 8 million vehicles per year,” Ford President Asia Pacific Joe Hinrichs said. The Sanand facility will provide work for 5,000 and is expected to initially produce 240,000 vehicles and 270,000 engines annually. The facility will produce petrol and diesel engines. Ford has already invested some US$2 billion in India. Its plant in Chennai has an annual capacity of 200,000 cars and 250,000 engines. (September 6, 2011)