Ford launches new SUV, to invest $142 million
January 4th, 2012 - 9:33 pm ICT by IANSNew Delhi, Jan 4 (IANS) Ford Motor Co Wednesday launched a sports utility vehicle (SUV) - EcoSport - ahead of the Auto Expo and said it will invest $142 million in its Chennai plant to manufacture the model.
The EcoSport is the second of eight products slated to be launched in India by the middle of this decade, Ford said in a statement.
The company did not disclose the price of the vehicle.
According to Ford, the EcoSport is a significant linchpin in the company’s aggressive global plan to achieve its goal of increasing worldwide sales by nearly 50 percent by mid-decade.
“We are bullish on India and we expect significant growth as per capita income rises in Tier II and III cities,” Joe Hinrichs, group vice-president and Asia Pacific and Africa president, told reporters.
The Indian market will be the third largest by the end of the decade after US and China, said Hinrichs.
The Chennai manufacturing facility where the new EcoSport will be produced has an annual production capacity of 2,00,000 units. The SUV produced at the plant would also be for exports to international markets.
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- Ford India to invest Rs.750 crore in Chennai plant - Jan 20, 2012
- New launches to dazzle visitors at Auto Expo - Jan 01, 2012
- Nissan unveils multi-purpose vehicle Evalia - Jan 05, 2012
- Ford to invest $72 mn to expand engine plant - May 17, 2011
- Maruti Suzuki unviels compact SUV - Jan 05, 2012
- Ford to export Figo to Mexico, Middle East, North Africa - Mar 09, 2011
- Maruti plans to roll out SUVs and MPVs - Feb 03, 2012
- Mahindra eyeing African market for new SUV - Sep 29, 2011
- Mega-launches, big-ticket announcements at Delhi Auto Expo - Jan 03, 2012
- Ford India to benefit from economies of scale - Sep 20, 2011
- Ford to launch eight models by 2015 - Aug 26, 2010
- Mahindra launches premium sports utility vehicle XUV500 - Sep 29, 2011
- Ford's August sales up nine percent - Sep 01, 2011
- Renault to launch two more models in India in 2012 - Jan 17, 2012
Tags: africa, asia pacific, auto expo, china, decade, ford, ford motor, ford motor co, global plan, group vice president, India, international markets, joe hinrichs, linchpin, New Delhi, per capita income, sports utility vehicle, tier ii, worldwide sales