Ford India officially announced about investing $1bn for building their second engine and vehicle assembly in India. This comes in the wake of the company trying to step up its production to keep up with the increasing demand in the market.
Their assembly plant will be in Gujarat, and will employ 5,000 individuals. This will be the company’s second manufacturing plant in India, following the first plant, which is located in Chennai. We recently announced about the government of Gujarat allocating a 400 acre plot for use to Ford Motors; however there was still no official word from the leading auto company, which was expected to be out today.
Well, the company recently released an official announcement that they have signed a Memorandum of Understanding with the government of Gujarat and will be making an investment of INR 4,000 crores or US$1bn in two facilities that will include body, paint, stamping as well as assembly operations for manufacturing of engines.
The plant will have an annual production capacity of 240,000 units in the initial phase, whereas the engine manufacturing annual capacity in the initial phase will be 270,000 units. The plant is to be built on the 460 acre plot provided by the state of Gujarat. The CEO and president of Ford’s Africa and Asia Pacific division, said Namaste Gujarat! He said that they are delighted on announcing the newest location for the company’s vehicle manufacturing site in Gujarat.
The company has set aggressive growth plans in Africa, Asia Pacific and India, the opening of these 2 new facilities is important for them is realising this strategy for growth in one of the world’s most dynamic regions.
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