Ford Motor to invest $75 m in India

By agencies   |   Friday, 28 October 2005, 07:00 Hrs
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MUMBAI: Ford Motor Co. announced that they would invest about $75 million in India to support its future growth plan in the country.

Recently, the company has launched its new vehicle-Ford Fiesta in the Indian market, which will shortly go on sale in India.

Announcing about the investment plan, Company’s Managing Director and Ford India’s President, Arvind Mathew said, “Ford India has received approval from Ford Motor Company for an additional equity infusion of $75 million to meet the needs of our future plans.”

The company has invested $375 million in its manufacturing facility near the southern city of Chennai and other operations in India.

Ford began its operation in India in 1996, as a joint venture with Mahindra & Mahindra. Earlier this year it has become a subsidiary of Ford Motor Co.

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