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.
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.
The Lexus ES sedan is more than just an offering within the company’s lineup.
It’s the fifth generation of a vehicle that has been increasing in sales year after year since its introduction in 1997.
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