Ford to invest USD 195 mn in new Chennai Global Tech Center

Ford is all set to readjust its business strategy in India when it announced that the company will be opening a new global technology and business center in Chennai.
Investment of INR 1,300 crore will be taken place in the facility which will be serving as a hub for mobility solutions, product development, and business services in India and export markets.
The plant will have a 28 acre facility in Chennai and will be operational in the early 2019. Ford will also add more 3,000 employees in Chennai to fully staff 12,000 employee facility with the new advancement.
Ford’s executive chairman William Clay Ford (JR), visiting Chennai for the announcement said, “The Chennai facility will become Ford’s second-largest center of employment globally after Dearborn in the United States of America. India is not only a vibrant market for cars and new mobility ideas, it also is rich with talent, technical expertise and ingenuity.”
Earlier in September 2016 at the Ford Investor Day in Dearborn, William had said, “Ford is taking a new look at how to lead in select emerging markets. The company sees Russia and South America positioned for recovery, ASEAN remaining profitable and a path to profitable growth in the Middle East and Africa. As it pushes for a path to profitability in all emerging markets, Ford is re-evaluating its strategy and business model for India.”
Presently, Ford has 2 operating plants in India – in Chennai and Sanand with an annual capacity of about 4.40 lakh units.
The company has exported 73,821 units and sold a total of 46,422 units, in the current fiscal’s April-September 2016 period.

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