Ford India has announced its plans to make an investment of Rs. 750 crore at its manufacturing plant near Chennai to prepare for the production of its new SUV EcoSport. The Tamil Nadu Chief Minister, Ms. J. Jayalalithaa has been informed about the company’s decision by Mr. Michael Boneham Ford India’s President and Managing Director. Mr. Boneham has also stated that the investment will generate employment for about 400 additional workers.
Currently, Ford India’s plant at Maraimalai Nagar near Chennai produces Ford’s Figo hatchback, the sedans Fiesta Classic and New Fiesta and the SUV Endeavour. With new investment at the plant, the company will now manufacture the new SUV EcoSport at the facility.
The company has been assured by Ms. Jayalalithaa of continued support by the government. Ford has been a catalyst in encouraging auto investment influx in the state of Tamil Nadu. After the investment by Ford in 1995, the state has witnessed Chennai become an automobile hub.
The company has grown at a rate of 15 percent annually since it entered the Indian automobile market. Ford has established its Global Business Service Centers in Chennai and Coimbatore employing another 5,000 people or more.