Today, Ford is scheduled to open a $1 BILLION parts and assembly plant in India, officially doubling the company’s presence within the country. According to reports, the $1 billion plant– located in Sanand, Gujarat– will produce 240,000 vehicles per year and an astonishing 270,000 engines.
“With today’s opening of our plant in Sanand, we have taken our growth commitment to a new high in India,” said Mark Fields, Ford president and CEO.
Ford’s new plant in India spans across 460 acres and includes a number of different operations, including stamping, body, paint, and assembly. Ford says that the plant will primarily focus on the compact car segment, with a particular focus on building EcoSports and the Figo Aspire sedan.
“India is very cost competitive, which is important particularly for small vehicles,” Fields told reporters at the factory opening.
Last year, Ford experienced solid success inside of India, selling around 77,000 units. But the company does see an opportunity for improvement in what is now the world’s 6th largest market.
“India will become the center of excellence for compact cars for us,” says Fields. “2015 will be a breakthrough year for Ford all over the world and in India.”