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Ford Investing US$500M in India Auto Operations

01/08/2008
Ford Motor Company today announced plans to invest US$500 million to expands its India operations. The new investment will fund several new initiatives, including the expansion of Ford India's current manufacturing facility in Chennai to begin production of a new small car in the next two years, and construction of a fully integrated and flexible engine manufacturing plant that will go online by 2010. The new investment brings Ford's total financial commitment in India to more than US$875 million. The company expects to create more than 9,000 new jobs as a result of the investment. Car sales in India are growing by more than 20 percent per year, compared with 3 percent globally. During the 2006-2007 fiscal year, Ford sold approximately 42,000 cars in India.

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