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Ford to invest $1bn in India(Gujarat) plant
Ford's Indian subsidiary is planning to invest INR40bn (approx $1bn) to build a new integrated manufacturing facility in Gujarat, India.
As part of the expansion, Ford India and the State of Gujarat have signed a memorandum of understanding (MoU) to build a vehicle manufacturing plant and an engine plant on a 460-acre site in Sanand, Gujarat.
The company is expected to invest more as it is planning to launch eight new models till 2015 in the Indian car market.
The US auto maker currently has a factory near Chennai in Tamil Nadu, India and the new plant - which will have an initial annual capacity of 240000 units and 270000 engines.
Ford India, which just launched the new Fiesta, sold 71,347 wholesale and export vehicles from January to July 2011, compared to 49,131 units sold during the same period last year - reporting a 45% increase year-over-year.
In July 2011, the company had combined wholesales and exports of 10,706 units, compared to 9,666 units in July 2010.
Ford India president and managing director Michael Boneham said the company is investing in the future and reinforcing its long-term commitment to India by building two new plants in Gujarat and by adding the new Fiesta to its portfolio.
"The new Fiesta is the first of eight new vehicles we will bring to India by mid-decade," Boneham said.
"We appreciate our customers' patience as we work with our suppliers to remove capacity constraints, and ensure we can meet the ever increasing demand for Ford products.
"The new Fiesta is a great addition to our portfolio and has had a tremendous reaction from customers so far. We are pleased to have sold over 70,000 vehicles to local and international markets this year."
Ford to invest $1bn in India plant - Automotive Business Review
I hope Gujarat and TN compete to win each other out!
Firms looking closely at Gujarat for investment in auto sector
• PSA Peugeot Citroen SA is in advanced negotiations with state government to set up a plant, preferably around Sanand. The French car maker aims to invest around Rs4,000 crore in a new facility with a capacity to produce 300,000 units a year
• Maruti Suzuki India Ltd’s top officials recently announced their plans to invest Rs6,000 crore for setting up a car manufacturing plant with a capacity of one million units per annum
• Senior officials of Bajaj Auto Ltd are planning to meet chief minister Narendra Modi to explore the option of setting up a two-wheeler manufacturing facility at Kutch. The factory, with an annual production capacity of around five million units, will require an investment of Rs1,000 crore
• Hindustan Aeronautics Ltd is in talks with the state for setting up a Rs4,000 crore project for design, development, manufacture, repair and overhaul of aircraft, aero engines and helicopters
Major investments so far in Gujarat’s auto sector
• General Motors India Pvt. Ltd has invested Rs2,000 crore in its plant at Halol in Vadodara and is in the process of investing around $250 million (around Rs1,100 crore) more
• Tata Motors Ltd has invested Rs2,900 crore for its Nano plant in Sanand
• Bombardier Transportation India Ltd. has invested Rs207 crore to set up its wagon manufacturing plant at Savli in Vadodara district
• CEAT Ltd, the flagship company of RPG Enterprises Ltd setting up a tyre making facility in Halol with an estimated investment of Rs1,500 crore
• Asia MotorWorks Ltd, manufacturer of heavy commercial trucks has invested Rs1,400 crore to set up its factory at Bhuj with an annual capacity of 50,000 vehicles
• Apollo Tyres Ltd has invested Rs2,000 crore to set up tyre manufacturing facilities in Limda in Vadodara district
• Atul Auto Ltd, a Rajkot based three-wheeler company has invested Rs63 crore for setting up a 24,000 per annum capacity in Shapar near Rajkot
• Electrotherm (India) Ltd has set up a electric two-wheeler manufacturing facility in Ahmedabad with a installed capacity of 250,000 unit-per annum. The company sells the electric bikes under the brand name Yo Bykes. The company is also developing an electric 3 Wheeler and a hybrid Electric Bus.
http://www.livemint.com/2011/07/28230450/Firms-looking-closely-at-Gujar.html?h=B
Ford's Indian subsidiary is planning to invest INR40bn (approx $1bn) to build a new integrated manufacturing facility in Gujarat, India.
As part of the expansion, Ford India and the State of Gujarat have signed a memorandum of understanding (MoU) to build a vehicle manufacturing plant and an engine plant on a 460-acre site in Sanand, Gujarat.
The company is expected to invest more as it is planning to launch eight new models till 2015 in the Indian car market.
The US auto maker currently has a factory near Chennai in Tamil Nadu, India and the new plant - which will have an initial annual capacity of 240000 units and 270000 engines.
Ford India, which just launched the new Fiesta, sold 71,347 wholesale and export vehicles from January to July 2011, compared to 49,131 units sold during the same period last year - reporting a 45% increase year-over-year.
In July 2011, the company had combined wholesales and exports of 10,706 units, compared to 9,666 units in July 2010.
Ford India president and managing director Michael Boneham said the company is investing in the future and reinforcing its long-term commitment to India by building two new plants in Gujarat and by adding the new Fiesta to its portfolio.
"The new Fiesta is the first of eight new vehicles we will bring to India by mid-decade," Boneham said.
"We appreciate our customers' patience as we work with our suppliers to remove capacity constraints, and ensure we can meet the ever increasing demand for Ford products.
"The new Fiesta is a great addition to our portfolio and has had a tremendous reaction from customers so far. We are pleased to have sold over 70,000 vehicles to local and international markets this year."
Ford to invest $1bn in India plant - Automotive Business Review
I hope Gujarat and TN compete to win each other out!
Firms looking closely at Gujarat for investment in auto sector
• PSA Peugeot Citroen SA is in advanced negotiations with state government to set up a plant, preferably around Sanand. The French car maker aims to invest around Rs4,000 crore in a new facility with a capacity to produce 300,000 units a year
• Maruti Suzuki India Ltd’s top officials recently announced their plans to invest Rs6,000 crore for setting up a car manufacturing plant with a capacity of one million units per annum
• Senior officials of Bajaj Auto Ltd are planning to meet chief minister Narendra Modi to explore the option of setting up a two-wheeler manufacturing facility at Kutch. The factory, with an annual production capacity of around five million units, will require an investment of Rs1,000 crore
• Hindustan Aeronautics Ltd is in talks with the state for setting up a Rs4,000 crore project for design, development, manufacture, repair and overhaul of aircraft, aero engines and helicopters
Major investments so far in Gujarat’s auto sector
• General Motors India Pvt. Ltd has invested Rs2,000 crore in its plant at Halol in Vadodara and is in the process of investing around $250 million (around Rs1,100 crore) more
• Tata Motors Ltd has invested Rs2,900 crore for its Nano plant in Sanand
• Bombardier Transportation India Ltd. has invested Rs207 crore to set up its wagon manufacturing plant at Savli in Vadodara district
• CEAT Ltd, the flagship company of RPG Enterprises Ltd setting up a tyre making facility in Halol with an estimated investment of Rs1,500 crore
• Asia MotorWorks Ltd, manufacturer of heavy commercial trucks has invested Rs1,400 crore to set up its factory at Bhuj with an annual capacity of 50,000 vehicles
• Apollo Tyres Ltd has invested Rs2,000 crore to set up tyre manufacturing facilities in Limda in Vadodara district
• Atul Auto Ltd, a Rajkot based three-wheeler company has invested Rs63 crore for setting up a 24,000 per annum capacity in Shapar near Rajkot
• Electrotherm (India) Ltd has set up a electric two-wheeler manufacturing facility in Ahmedabad with a installed capacity of 250,000 unit-per annum. The company sells the electric bikes under the brand name Yo Bykes. The company is also developing an electric 3 Wheeler and a hybrid Electric Bus.
http://www.livemint.com/2011/07/28230450/Firms-looking-closely-at-Gujar.html?h=B
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