Ford to expand Chennai plant with $72 mn investment!

As per latest official updates in world of automobile market, American carmaker Ford Motor Company is planning to invest $72 million in its engine manufacturing factory so as to increase the yearly production capacity from 250,000 units to 330,000. President and Managing Director of Ford India, Michael Boneham said that the development procedure will continue till June 2012 and Main Ford Motor Company will make an investment of more than $1 billion in India.

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He further said that the investment will result in strengthening the production capacity of their Chennai unit and will assist in Ford's idea of expansion in India. Also, this investment will provide additional support for the launch of eight new global Ford vehicles in India by 2015.According to Boneham, after the completion of expansion phase, company is going to add another production shift in the current engine assembly plant and this will in turn create more than 300 jobs.

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As per insiders report, with this investment plan Ford Company is planning to convert Ford India into one of the major hubs of engine manufacturing and export all across the globe. It is also said that Ford’s Chennai plant is going to be first Ford plant to encompass single production line capable of manufacturing both petrol and diesel engines. Furthermore, the plant will also manufacture crank shafts for petrol and diesel engines.

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Existing scenario states that Engine plant of Ford India at Chennai manufactures five Duratec petrol engine versions and one Duratorq diesel engine version for Ford vehicles. Also, it is expected to develop powertrains for new Ford Fiesta sedan after its launch in India in November, 2011.It is to be noted that Ford India Company has exported approximately 4,000 1.4L and 1.6L petrol to Thailand every month since June 2010. And all the engine units were built at the in-house Chennai facility of Ford India.

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As per current sales figures, Ford India has acquired the fifth position in the Indian car market after the launch of Ford Figo and the graph is still gaining the elevation. To be more specific, reports say that Ford Motors recently crossed the milestone of selling one lakh units of Ford Fiesta and Ford Figo in both Indian and foreign markets.