Ford Motor Company has unveiled the EcoSport SUV in India a day before the commencement of the Auto Expo 2012. The compact sports utility vehicle is expected to be priced at Rs. 7,00,000 to Rs. 8,00,000. The company is planning to spend an amount of Rs. 738 crore at its Chennai production plant where the SUV will be manufactured. The Chennai plant currently has a capacity to produce 2,00,000 cars annually.
The EcoSport is a global product by Ford which is aimed at expanding the company’s presence across the major growth markets such as India, China, Brazil and South East Asia and has been developed in South America at one of Ford’s 8 global product development centers in collaboration with development teams from Asia, North America and Europe.
Ford India’s annual sales rose by 15 percent in 2011 from the sales figures in 2010. The company is expecting sales to double in the Asian countries by the year 2020 and would account for one-third of the company’s global sales.