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Ford Doubles Capacity in India
Ford Motor Co.'s new $1 billion assembly complex in Sanand, India, approximately doubles the company's annual capacity in the country to 440,000 vehicles and 610,000 engines.
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Ford Motor Co.'s new $1 billion assembly complex in Sanand, India, approximately doubles the company's annual capacity in the country to 440,000 vehicles and 610,000 engines. The facility was officially opened earlier today.
The 460-acre Sanand site will first produce the Fiesta-based Figo Aspire subcompact sedan. Initial one-shift operations will employ 2,500 workers to make 240,000 vehicles and 270,000 engines per year.
The hiked capacity will enable Ford to triple its exports from India to such markets as Europe to about 230,000 units.
Analysts predict India's domestic car market will emerge from its slump this year and begin to grow at a 6%-8% annual rate. They say the market, which fell to 1.85 million units in 2014, could double by 2020.
Ford's sales in India dropped 4% to 77,100 units last year, but its exports almost doubled to 77,000 vehicles.
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