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<ul><li><keyword id="19971142" type="General" weightage="20" keywordseo="Ford" source="keywords" meta.keywordsubtype="org" meta.entityname="Ford" meta.hostid="261" meta.entityid="Ford">Ford</keyword> is all set to make a return to India, with eyes on the international market.</li><li>The company plans on repurposing its Chennai plant to manufacture vehicles for export.</li><li>The company has submitted a letter of intent to the Tamil Nadu government.</li></ul>After several reports about its return to India, popular American automaker Ford has expressed its intent to restart operations at its plant in Chennai, Tamil Nadu. Ford is well known for its popular SUVs such as the Endeavour and EcoSport. Ford had exited the Indian market in 2021 due to declining sales. The company, which had two plants in the country had sold one to Indian automaker <keyword id="19906967" type="General" weightage="20" keywordseo="Tata-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Motors" meta.hostid="261" meta.entityid="Tata Motors">Tata Motors</keyword> and planned a shutdown of the second plant. However, it could not wind down its vehicle and engine manufacturing in Chennai by the targeted timeline of the second quarter of 2022. The company on Friday submitted a letter of intent to the Tamil Nadu government, confirming its intention to utilise the Chennai plant for manufacturing for exports. "This step aims to underscore our ongoing commitment to India as we intend to leverage the manufacturing expertise available in Tamil Nadu to serve new global markets," Ford International Markets Group President Kay Hart said. “We are grateful for the ongoing support from the Tamil Nadu Government as we explored different options for the Chennai plant,” Hart added. The company said the strategic move will see the facility repurposed to focus on manufacturing for export to global markets, as part of the company's Ford+ growth plan. “Ford currently employs 12,000 individuals in Global Business Operations in Tamil Nadu, a number expected to grow by 2,500 to 3,000 jobs within the next three years”, it added. "Combined with the engine manufacturing operations in Sanand, India represents Ford's second-largest salaried workforce worldwide," the company said. The company said that further information about the type of manufacturing and other details will be disclosed later. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/webstories/western-carriers-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/113312196.cms">Western Carriers IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/stock-market/news/pn-gadgil-jewellers-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/113302533.cms">PN Gadgil Jewellers IPO allotment – How to check allotment, IPO GMP, listing date and more</a> <a href="https://www.businessinsider.in/tech/mobile/news/iphone-16-pro-is-already-cheaper-than-the-iphone-15-pro-in-india-but-you-can-get-it-for-up-to-30000-cheaper/articleshow/113220789.cms">iPhone 16 Pro is already cheaper than the iPhone 15 Pro in India, but you can get it for up to ₹30,000 cheaper</a>

Ford is returning to India, expresses intent to restart its Tamil Nadu plant for exports

The manufacturing of Ford’s popular SUV EcoSport for its European markets will be shifted from Chennai to Romania in line with its 'One Ford' plan. From 2017, the Indian operations will be focusing on manufacturing for the rest of the world and the North American market. 
 
Europe has seen over 30% growth in the sale of EcoSport, which is why Ford Motor Company has decided to move its production to Craiova, Romania by next year end. This move would also require an investment of Euro 200 million. 
 
Chennai plant used to do a round the clock production of the EcoSport, which was then exported to Europe, its backbone. Reportedly, the plant would now export small SUV to its home base in North America in a few years. 
 
The shifting, which might sound like a loss to the Indian plant, will in fact be marking a major milestone in its history of domestic operations, with supplies planned to its home base in North America. 
 "The company is planning to export about 80,000 to 90,000 units to North America, which will compensate for production for European marka few years from now. While the sales in the domestic operation slowed down significantly, Europe continues to do well and the schedules for the coming two years is also healthy, ensuring high capacity utilisation," said one of three people who are aware of <keyword id="106216" type="CITY" weightage="100" keywordseo="Ford-India">Ford India</keyword>'s plan. 
 
<a href="http://images.cdn.autocar.co.uk/sites/autocar.co.uk/files/styles/gallery_slide/public/images/car-reviews/first-drives/legacy/fordecosport-refresh.jpg?itok=RAX0mem1">Image source</a>

Ford India to stop manufacturing Ecosport for the European Market

About 2,000 workers of <keyword id="106216" type="General" weightage="80" keywordseo="ford-india" source="Orion">Ford India</keyword> Pvt Ltd's plant near here that will be shutdown soon, are hoping for some good news from the management in respect of their severance package, said a union official. "The management said they will come out with their offer on Wednesday afternoon. We are waiting for the same. If the offer is acceptable, then it is fine and if not, we will continue our protest," the union official told IANS, preferring anonymity. According to him, around 1,000 workers are inside the plant at Maraimalainagar near here and about 700 are outside the gates. Since Monday workers have been on a sit-in and sit-out protest at the <keyword id="6355174" type="General" weightage="100" keywordseo="ford" source="Orion">Ford</keyword> <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>'s plant. On Tuesday, an official from the state labour department had come to the factory and had discussions with them. "This will be the final job for most of the workers. We may go into contract labour as age is against us. The office staff can get jobs elsewhere or even in Ford's other business ventures here," a senior worker told IANS on Tuesday. According to him, it seems other major players do not want Ford India to pay a liberal severance package as it may become the benchmark rate for others to follow. "For Ford India's parent <keyword id="64455" type="General" weightage="50" keywordseo="ford-motor-company" source="Orion">Ford Motor Company</keyword>, the compensation to workers will be a small amount owing to the dollar-rupee exchange value," the worker added. He also said for the workers who are inside the factory since Monday, food is supplied by the canteen and for those outside, the workers union is taking care of them. A worker union official had told IANS that production of cars at the Maraimalainagar plant is scheduled only for ten days. Currently, the plant rolls out EcoSport for the export market. In September 2021, Ford India announced its decision to wind down vehicle assembly in Gujarat's Sanand by the fourth quarter of 2021, and vehicle and engine manufacturing in <keyword id="12864" type="General" weightage="50" keywordseo="chennai" source="Orion">Chennai</keyword> by the second quarter of 2022. Ford India has four plants in the country - vehicle and engine plants in Chennai and Sanand. The workers at the Maraimalainagar plant are also dejected at being left out, as Ford India's Gujarat plant and its workers will be taken over by <keyword id="42747" type="General" weightage="50" keywordseo="tata-motors" source="Orion">Tata Motors</keyword>' subsidiary Tata Passenger Electric Mobility. The Chennai plant has about 2,700 associates (permanent workers) and about 600 staff. Former Chief Minister of Tamil Nadu and AIADMK Coordinator O. Panneerselvam had said the stoppage of production by Ford India in the state is a major concern. (Venkatachari Jagannathan can be reached at v.jagannathan@ians.in) SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/tech/mobile/news/moto-g82-5g-expected-to-launch-in-india-on-june-9-expected-price-specs-and-everything-you-need-to-know/articleshow/91919825.cms">Moto G82 5G expected to launch in India on June 9 – expected price, specs and everything you need to know</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/cryptocurrency/news/an-indian-home-can-live-for-a-year-with-the-energy-it-needs-to-mine-a-single-bitcoin/articleshow/91916128.cms">An Indian home can live for a year with the energy it needs to mine a single Bitcoin</a>

About 2,000 Ford workers in Chennai who lost jobs await news on severance packages

<a href="http://www.businessinsider.in/searchresult.cms?query=Ford+India">Ford India</a> has rolled out its millionth vehicle and engine from its Chennai plant. This is being considered a milestone since the company entered the Indian market in 1999. <a href="http://www.businessinsider.in/searchresult.cms?query=Ford+EcoSport">Ford EcoSport</a> was the millionth vehicle to roll out. 
 
"Chennai is from where we started our Make in India journey," Executive Director, Manufacturing <a href="http://www.businessinsider.in/searchresult.cms?query=Ford+India">Ford</a> Chennai Vehicle Assembly and Engine Plant, Balasundaram Radhakrishnan said. 
 
 
The Chennai facility has set new benchmarks in adopting processes that not only ensures quality but also reduces carbon footprints significantly, he added. 
 
The 350 acres Chennai facility came up with an investment of $1 Billion and currently manufactures <a href="http://www.businessinsider.in/searchresult.cms?query=Ford+EcoSport">Ford EcoSport</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=Ford+Fiesta">Ford Fiesta</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=Ford+Endeavour">Ford Endeavour</a>. The facility has an installed capacity to assemble up to 2,00,000 vehicles and 3,40,000 engines a year. 
 
Image credit: Indiatimes

Ford India rolls out millionth unit from Chennai

<keyword id="106216" type="CITY" weightage="20" keywordseo="Ford-India">Ford India</keyword> on Tuesday said that it will recall 20,752 <keyword id="889856" type="UNKNOWN" weightage="20" keywordseo="EcoSport-SUV">EcoSport SUV</keyword>, made at the company’s <keyword id="12864" type="COMPANY" weightage="20" keywordseo="Chennai">Chennai</keyword> plant between January 2013 and September 2014, to correct concerns about fuel and vapour line corrosion in the long run. 
 
The car manufacturer will also inspect the vehicles for reorienting wiring harness related to the correct deployment of side airbags, as per a statement issued by the company, adding that the safety of its customers is always priority at Ford India. 
 
The Chennai-headquartered company is writing to customers and asking them to get in touch with their local Ford dealer so that the necessary rework can be carried out without paying a single penny. 
 It is important to note, Ford India also exports <keyword id="6409766" type="UNKNOWN" weightage="20" keywordseo="EcoSport">EcoSport</keyword> to more than 35 countries located in different corners of the world. In November, Ford India exported 7,101 vehicles as against 4,141 vehicles a year ago, while domestic sales were at 5,661 vehicles as compared to 7,909 units sold in the same period last year.

Ford Recalls 20,752 EcoSport SUV To Check Corrosion Issues

New Delhi, Apr 7 () Auto maker Ford India on Tuesday said it is manufacturing face shields at its manufacturing plants which would be distributed among doctors, paramedics and emergency staff. The maker of models like Endeavour and EcoSport said it has come up with a team at its manufacturing plants at Sanand and Chennai to produce face shields. The protective face shield is designed and developed by Ford engineers and will be distributed to frontline workers – doctors, paramedics, sanitary workers and emergency staff, Ford India said in a statement. Alongside its commitment to contribute to Prime Minister National Relief Fund (PMNRF), the company is following up with a global COVID-19 Donation Match program to raise USD 1 million potential aid for groups battling the pandemic across the globe, it added. Through the COVID-19 Donation Match, Ford Fund is giving employees, as well as their families and friends, an opportunity to donate to non-profits and other community organisations in their efforts to meet coronavirus-related needs in more than 20 countries around the world. In India, the initiative will take care of specially-abled communities during the time of crisis, it said. "Health and safety of our workforce, customers and communities is our highest priority. From knowledge to resources, we are deploying everything in our means to help fight this pandemic," Ford India executive director Marketing, Sales and Service Vinay Raina said. The company has also rolled out initiatives for its customers, like price protection for vehicles booked until April 30, warranty extension and extension of service timelines. MSS ANSANS

Producing face shields at manufacturing plants to counter coronavirus pandemic: Ford India

<ul><li>Fiat Chrysler Automobiles announced its expansion plans to boost the local product line-up in India, with a commitment of investing over $250 million. It plans to roll out four new SUVs in 2021. </li><li>Not just Fiat, even the American multinational automaker Ford Motor had expressed plans to expand its presence in India. They are looking to launch <a href="https://www.zigwheels.com/upcoming-Ford-cars">four models</a> this year.</li><li>In an exclusive interview earlier with Business Insider, <a href="https://www.businessinsider.in/business/auto/news/kia-motors-11-electric-vehicles-in-2021-but-india-may-have-to-wait-longer-to-buy/articleshow/80056447.cms">Kia Motors India</a> revealed its plans to make India a global export hub for Kia Motors.</li><li>Nissan is already ramping up its production at its Chennai plant and has plans to add 1500 more jobs. </li></ul>With new investment plans of over $250 million (₹1,824 crore), Fiat Chrysler (FCA) joins the likes of other multinational giants like Ford, Kia, and Nissan that are already betting big on India’s potential in the coming years. Fiat has announced its mega investment plans to build its presence in the country by launching four new sport-utility vehicles (SUVs) under its Jeep brand over the next two years. The American multinational automaker Ford Motor has also charted out growth plans in India, and it is going solo too. At the beginning of this year, Ford called off its joint venture with Mahindra and Mahindra (M&amp;M). While the move may affect some plans to launch new variants, Ford remains gung-ho on its India expansion plans and has a slew of launches scheduled for 2021. Even Kia Motors’ India <a href="https://www.businessinsider.in/business/auto/news/kia-motors-11-electric-vehicles-in-2021-but-india-may-have-to-wait-longer-to-buy/articleshow/80056447.cms">revealed </a>its plans to make India a global export hub for the auto giant, in an exclusive interview with Business Insider. And Nissan too is no less than its peers, the company is already ramping up its production at its Chennai plant and has plans to add 1500 more jobs. These announcements come at a time when the pandemic has battered automakers around the world with subdued sentiment and a decline in sales. In fact, the Indian auto sector was witnessing a slowdown and BSVI transition challenges even before the pandemic struck. Japan’s Honda Motor was forced to shutter one of its plants <a href="https://www.bloombergquint.com/business/honda-said-to-shut-india-plant-and-reduce-four-wheeler-output">in Noida</a>, while General Motors (GM) stopped producing cars in India for <a href="https://www.rushlane.com/general-motors-india-plant-shut-down-12387365.html">export </a>in international markets. But that isn’t discouraging these companies. And it opens up more room for competition. Whether in terms of money, setting up newer plants and tech centres, or research &amp; development, Ford, Fiat, and other global auto companies are making a move to grab their share in India’s automotive market. So what makes India attractive for these automakers? Fiat’s $250 million India investment plans Fiat currently holds less than a 1% share of India’s passenger vehicle market but is looking to expand its operations with four new products that will hit Indian roads by the end of 2022. It is determined to increase its locally-made componentry in vehicles produced in its joint venture manufacturing facility. “Our plans in India are aimed at increasing the value proposition for customers through our products and services, working hard on customer satisfaction and unlocking business opportunities for our business partners,” FCA India Managing Director, Dr Partha Datta said. The all-new local vehicle line-up includes the 2021 made-in-India Jeep Compass, a locally produced and global-first three-row Jeep SUV, as well as the iconic Jeep Wrangler and next-generation Grand Cherokee flagship, which will both be locally assembled in FCA’s joint venture manufacturing facility in Ranjangaon. The company’s Jeep brand made its debut in India in 2016 and carved a premium position in India. Fiat is now planning to unveil the 2021 Jeep Compass in India on January 7, and production has already commenced. The luxury seven-seat mid-size Jeep, codenamed H6, will be launched in 2022. Fiat’s $250 million investment plans in India are in addition to the $450 million they have already committed over the past five years. They have also recently invested in setting up a <a href="https://www.businessinsider.com/fiat-chrysler-to-spend-150-million-setting-up-global-tech-centre-in-india-2020-12?IR=T">tech centre </a>in Hyderabad. Fiat aims to create at least 1000 new jobs by the end of 2021. Ford is betting big on India The American multinational automaker Ford Motor is expanding its presence in India. From its Focus ST to Ranger Raptor and Figo to EcoSport — the company had a slew of launches scheduled for 2021. And they are all set to go at it solo in India Ford had signed a joint venture with M&amp;M in October 2019 to produce vehicles for emerging markets. However, on January 1, they pulled the plug on this partnership due to the challenges caused by the COVID-19 pandemic. Ford intends to continue its standalone business in the country. <div type="image" title="caleb-white-XGJBSkoqX_I-unsplash" msid="80112736" hostid="261"></div> On January 4, Ford India <a href="https://indianexpress.com/article/business/companies/ford-ecosport-2021-launched-in-india-price-features-mileage-7132375/">introduced</a> the 2021 line-up of its compact SUV EcoSport with enhanced connectivity features and an enhanced warranty at a starting price of ₹7.99 lakh. Kia also has big plans for India In an exclusive interview earlier with Business Insider, Kia India <a href="https://www.businessinsider.in/business/auto/news/kia-motors-11-electric-vehicles-in-2021-but-india-may-have-to-wait-longer-to-buy/articleshow/80056447.cms">revealed </a>its plans to make India a global export hub for Kia Motors. “For us at Kia, the new production-linked incentive (PLI) scheme certainly puts the spotlight on India and makes it even more important in our global scheme of things. Now, with the new scheme, we will be able to offer even more competitive and globalized products and reach more markets,” Tae-Jin Park, Executive Director &amp; Chief Sales Officer at Kia India, told Business Insider. <div type="image" title="Kia Motors" msid="80112770" hostid="261"></div> The government’s PLI scheme includes incentives of ₹57,000 crore over five years for the automotive sector and focuses on making Indian companies globally competitive by driving exports. According to the Nomura report dated December 28, the eligibility criteria are likely to be such that companies with high export revenue could be the key beneficiaries of the scheme. The global automakers are pushing ahead with big plans for India in the coming years. Even Japanese auto major Nissan is ramping up its production at its Chennai plant and starting a third shift to increase output. On Monday, the company <a href="https://auto.hindustantimes.com/auto/news/nissan-india-to-hire-1-500-workers-to-enhance-production-bolster-sales-force-41609759373497.html">said</a>, along with its dealer partners, it will hire 1,500 people in India to enhance production and reinforce the sales force after the robust response to its newly launched compact SUV Magnite. This comes after the company announced plans to layoff 1,700 people in India in 2019. SEE ALSO: <a href="https://www.businessinsider.in/india/news/tatas-got-airasia-stake-at-a-20-discount-while-indigo-and-spicejets-value-has-doubled-since-pandemic-broke-out/articleshow/80101467.cms" data-type="tilCustomLink">Tatas got AirAsia stake at a 20% discount while IndiGo and SpiceJet’s value has doubled since pandemic broke out</a> <a href="https://www.businessinsider.in/business/news/kishore-biyani-lashes-out-at-amazon-says-future-group-was-disillusioned-and-fed-up-with-the-companys-lackadaisical-attitude/articleshow/80107540.cms" data-type="tilCustomLink">Kishore Biyani lashes out at Amazon, says Future Group was disillusioned and fed up with the company's lackadaisical attitude</a>

What is making Ford, Fiat, and Kia put more money in India

<ul><li>American car maker Ford may form a partnership with Indian car maker M&amp;M, Reuters said citing sources.</li><li>India's third-largest car maker M&amp;M is likely to own 51% stake in the venture and Ford may own the rest.</li><li>The two companies came together for the first time in 2017 to build SUVs and electric cars.</li><li>Ford would add 14,000 employees, two plants to M&amp;M and both companies had similar sales in 2018.</li><li>In 2018, Ford's India division swung to profit for the first time in eight years.</li></ul>American car maker Ford's solo drive in India is likely to end. The company may form a joint venture (JV) with the Indian conglomerate, Mahindra &amp; Mahindra, according to a report citing sources from news agency Reuters. Both companies have refused to confirm Reuters' report that said M&amp;M will own 51% stake in the JV, while Ford will own the rest. If this stake sale goes through, this will be a milestone in the history of the Dearborn, Michigan-based company that entered India nearly 25 years ago. "Since its entry in India in 1995, Ford has invested more than US$ 2 billion to expand its manufacturing facilities and sales &amp; service footprint to meet the demand in one of the world's fastest-growing auto markets," according to its website. M&amp;M, on the other hand, is the country's <a href="https://economictimes.indiatimes.com/industry/auto/auto-news/three-launches-help-mm-retain-third-spot-in-passenger-vehicle-sales/articleshow/68770337.cms" data-type="tilCustomLink" target="_blank">third-largest passenger vehicle</a> maker, whose automotive business spans from sports utility vehicles (SUV) to tractors and buses, from heavy engines to electric cars. The company bought over Korean peer Ssangyong in 2011 and an Italian graphic design firm in 2008. However, the country's automobile industry has been reeling under pressure from slowing car sales in recent months. What M&amp;M gets... Most importantly, in 2018, Ford's India division <a href="https://m.economictimes.com/industry/auto/auto-news/ford-motor-india-drives-into-profit-zone-after-eight-years/articleshow/66453826.cms" data-type="tilCustomLink" target="_blank">swung to profit</a> for the first time in eight years. About 85% of the components are locally sourced. Ford has integrated manufacturing facility at Maraimalai Nagar, near Chennai, produces its popular models like Ford EcoSport and Ford Endeavour. It also has, according to the company, a "$1 billion state-of-the-art integrated manufacturing facility in Sanand, Gujarat," which became operational in March 2015. M&amp;M has 16 plants dotted across the country. The annual installed manufacturing capacity is 610,000 engines and 440,000 vehicles. <a data-type="tilCustomLink" target="_blank">Total sales</a> for the year-ended December 2018 were at 265,714 units, just marginally up from a year earlier. In the same time, M&amp;M sold over 250,000 vehicles, including exports. Ford has more than 376 sales and service outlets in 209 cities across India. It will also bring to the table 14,000 employees. The synergies Just like Ford, M&amp;M's top-selling brands are SUVs and that segment is in a tight spot. While the demand is weak, emission norms are scheduled be tightened next year and that would make diesel cars, especially the gas-guzzling SUVs less attractive. Coming together would reduce competition and ease the pressure on the business. The two companies tied up in 2017 to build cars together and the <a href="https://www.livemint.com/Auto/OZIyEUKiu91VH2APzOspjK/Ford-posts-a-profit-in-India-20-years-after-driving-in.html" data-type="tilCustomLink" target="_blank">first model is expected to be out</a> in the financial year ending March 2020. M&amp;M on the other hand has been a pioneer in India's nascent electric car market, a growing space which Ford is absent from. The Mumbai-based company is planning to double its electric vehicle (EV) portfolio in three years. The current EV manufacturing capacity is 5,000 and the <a href="https://economictimes.indiatimes.com/industry/auto/auto-news/mm-plans-to-double-its-electric-vehicles-portfolio-in-3-years/articleshow/63089182.cms" data-type="tilCustomLink" target="_blank">firm plans to increase</a> it to 60,000-70,000 in a year. SEE ALSO: <a href="https://www.businessinsider.in/shark-tanks-kevin-harrington-invests-in-retail-store-the-new-shop/articleshow/68796960.cms" data-type="tilCustomLink" target="_blank">Shark Tank’s Kevin Harrington is back in India after 25 years to invest in a pop-up store chain</a>

Ford may enter a joint venture with M&M ending a 25-year old solo ride that cost $2 billion: Report

A sub 4 meter sedan is one of the three models the American auto major Ford plans to launch in India, over the next nine months. 
 
Besides, the company is also looking to expand its sales network in the country by adding over 100 new outlets, primarily in tier III cities, by the end of next year. "By early next year, we plan to introduce three models. First to come would be compact sedan Figo Aspire, followed by the new Figo hatchback and premium sports utility vehicle Endeavour," <keyword id="106216" type="CITY" weightage="100" keywordseo="Ford-India">Ford India</keyword> President and Managing Director <keyword id="2037938" type="PERSON" weightage="100" keywordseo="Nigel-Harris">Nigel Harris</keyword> said. 
 With the launch of Figo Aspire, expected to be rolled out next month, Ford is looking to get into high growth compact sedan segment which is currently dominated by <keyword id="44883" type="CITY" weightage="100" keywordseo="Maruti-Suzuki">Maruti Suzuki</keyword>, <keyword id="596" type="CITY" weightage="100" keywordseo="Hyundai">Hyundai</keyword>, <keyword id="20630" type="CITY" weightage="100" keywordseo="Honda">Honda</keyword> Cars and <keyword id="42747" type="CITY" weightage="100" keywordseo="Tata-Motors">Tata Motors</keyword>. 
 
Ford is determined to make a mark despite fierce competition in the segment, which accounts for nearly 30,000-35,000 cars each month. 
 
"There is room to do well in the segment," he said. 
 
Figo Aspire, which will come with various segment firsts including twin airbags as standard fitment across models, will be launched in both petrol and diesel trims. 
 
"While designed primarily for India, this is a global One Ford vehicle that lives up to our worldwide standards, offering more quality and advanced technologies than consumers would ever expect for the money," Harris said. 
 
With sales of 1.1 million vehicles in 2014, compact cars' share was 45 per cent in India's auto market in 2014. Ford expects the segment to grow to around 1.6 million units by 2018. 
 
When asked about the company's investment on the new product, Harris did not disclose the figure but said, the "investment is part of the $1 billion the company has put in on the Sanand plant". 
 
Elaborating on the product launches, he said: "After Figo Aspire, we plan to launch the new Figo hatchback. It will also be produced out from our Sanand plant. So after EcoSport, which still has more than 40 per cent market share in the SUV segment, we will have models in segments that are growing," Harris said. 
 
Commenting on the sales network expansion, Harris said: "We currently have 341 outlets across the country and by the end of next year we plan to add 100 more dealerships, primarily in the tier-III towns." 
 
Terming India as one of the most important markets for the American firm, Harris said: "This market is important for us and that's why we have invested in Chennai (plant) in 90s and now USD 1 billion in the Sanand facility in Gujarat." 
The company will also export the Figo Aspire to compete globally. Ford plans to make India an export hub for small cars. Ford aims to triple exports from India over the next five years with its new USD 1 billion plant here becoming operational. 
 
At present, Ford India exports around 60,000 to 70,000 units annually to over 35 global markets from its Chennai-based facility. With Sanand factory getting operational, the company is targeting a total of 50 export markets. 
 
With Sanand going on stream, Ford India's total installed capacity currently stands at 4.4 lakh vehicles and 6.1 lakh engines per annum. 
 
 
(Image credits: Indiatimes)

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