Ford to build new plant in India

Yesterday, Ford announced the company will invest $1 billion to build car and engine plants in Gujarat, India, as part of its aggressive global expansion, and to meet growing demand in India.

Speaking to reporters, Ford India president Michael Boneham said the new factory will recruit about 5,000 employees and this is the 2nd plant of Ford in India.

The vehicle manufacturing plant will have an initial annual capacity of 240,000 cars, and the engine plant will have an initial annual capacity of 270,000 engines.

Joe Hinrichs, president and CEO of Ford Asia Pacific and Africa, said "Ford has very aggressive expansion plans in India and in Asia Pacific and Africa, and these two new plants will be important in realizing our growth strategy here in one of the most dynamic regions in the world.”

Currently, Ford has a factory near Chennai. This plant is producing small cars like Fiesta and the Endeavour SUV and it has an annual assemble capacity of 200,000 cars.