Ford India looking at export markets to plan expansionFebruary 20th, 2009 - 9:06 pm ICT by IANS
Chennai Feb 20 (IANS) Car manufacturer Ford India that plans to roll out a small car on an outlay of $500 million, is currently studying overseas markets to finalise its engine and transmissions capacity expansion plans.
“We are working on the demand estimates of our export markets in the Asia Pacific and African regions. The expansion plans are finalised based on the market estimates for 2010 onwards,” company president and managing director Michael Boneham told reporters on the sidelines of the Madras Management Association’s (MMA) annual convention here Friday.
The company is setting up an integrated engine plant with an annual capacity of 250,000 units - for domestic and overseas markets - and doubling its car manufacturing capacity to 200,000.
Boneham said the company was also developing its vendor base including adding new ones.
Declining to comment on the mode of funding the expansion, he said: “We have got the funds from our group companies. The balance will be from the banks.”