India Business Network USA - Imports Exports Trade Commerce
Connect, Collaborate and Trade with Indian & USA Importers, Exporters, Suppliers
Join the Leading Social Network for Small Business oGoing!
Ford plans 2nd India plant, 8 new models
NEW DELHI: The success of Figo hatchback has prompted US auto major Ford
to bet big on India. While the company is starting exploratory work for
a second factory in the country, it is also planning to launch as many
as eight new models by 2015. The company, the only one of Detroit's Big
Three automakers to have avoided bankruptcy, is set to pump in
big-ticket money, over $1 billion it has already invested. Ford's
renewed strategy has now listed India among the "two most-important" markets globally, the other one being China.
" China and India are the two most-important markets for Ford vehicles globally
and we are set to increase our commitment and stake in India," Joe Hinrichs, president of Ford's Asia Pacific
and Africa markets, told TOI. While it boosts the product basket, the
company is also set to accord a special status to the Indian market —
making it a hub for some of its compact models. "We are taking the first
step towards realisation of this with the Figo, as it is on course to
be exported to 50 new markets including Mexico, South Africa and North African countries."
to bet big on India. While the company is starting exploratory work for
a second factory in the country, it is also planning to launch as many
as eight new models by 2015. The company, the only one of Detroit's Big
Three automakers to have avoided bankruptcy, is set to pump in
big-ticket money, over $1 billion it has already invested. Ford's
renewed strategy has now listed India among the "two most-important" markets globally, the other one being China.
" China and India are the two most-important markets for Ford vehicles globally
and we are set to increase our commitment and stake in India," Joe Hinrichs, president of Ford's Asia Pacific
and Africa markets, told TOI. While it boosts the product basket, the
company is also set to accord a special status to the Indian market —
making it a hub for some of its compact models. "We are taking the first
step towards realisation of this with the Figo, as it is on course to
be exported to 50 new markets including Mexico, South Africa and North African countries."
Comment
Innovation in Business
India Business Network
Videos
Badge
© 2012 Created by USA India Business Network.
You need to be a member of India Business Network USA - Imports Exports Trade Commerce to add comments!
Join India Business Network USA - Imports Exports Trade Commerce