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Ford Planning $1 Billion Investment in India?
Ford Motor Co. plans to invest as much as $1 billion in India over the next 5-7 years to develop new SUV/crossovers for the region, sources tell The Economic Times.
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Ford Motor Co. plans to invest as much as $1 billion in India over the next 5-7 years to develop new SUV/crossovers for the region, sources tell The Economic Times.
The Mumbai-based newspaper says Ford will spend at least $500 million to develop two new India-specific SUVs through its new Indian tech center. The company will spend about the same amount on a joint program with Mahindra & Mahindra Ltd. for a midsize SUV.
The first of the Ford models, code-named BX744, is a subcompact crossover for the Indian market that will bow in 2021, according to ET. The second model, known internally as BX745, is a larger SUV due in 2022 and intended for India and other markets, including Brazil and China.
The to be co-developed with Mahindra reportedly will ride on an existing Mahindra platform. Reuters reported last month that Ford will invest at least $100 million on the project over a decade, but ET says the American company’s spending with Mahindra will be considerably greater.
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