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Ford Motor Co. on Thursday opened a new factory in western India, more than doubling its capacity in the country as it makes a billion-dollar bet that Indian exports can power its push to sell more affordable vehicles around the world.
Ford’s new factory in the city of Sanand, in the western state of Gujarat, will be one of the first foreign facilities built in Asia’s third-largest economy mainly to make cars for export. Ford said it plans to use the factory—which cost $1 billion to build–to triple the number of cars it exports out of India.
Ford’s move shows support for Prime Minister Narendra Modi’s “Make in India” campaign to get more manufacturers expand in and export from the country. For the Dearborn, Mich., auto maker, which already has a large factory in southern India, it shows confidence India can build competitive cars despite its overstretched infrastructure and shortage of skilled labor.
“Together we are delivering Prime Minister’s Modi vision for India,” Mark Fields, chief executive of Ford, said at the launch event on Thursday. “We are happy to be making in India for India and for the world.”
Ford Makes a Billion-Dollar Bet India Can Become an Auto-Export Powerhouse - India Real Time - WSJ
Ford’s new factory in the city of Sanand, in the western state of Gujarat, will be one of the first foreign facilities built in Asia’s third-largest economy mainly to make cars for export. Ford said it plans to use the factory—which cost $1 billion to build–to triple the number of cars it exports out of India.
Ford’s move shows support for Prime Minister Narendra Modi’s “Make in India” campaign to get more manufacturers expand in and export from the country. For the Dearborn, Mich., auto maker, which already has a large factory in southern India, it shows confidence India can build competitive cars despite its overstretched infrastructure and shortage of skilled labor.
“Together we are delivering Prime Minister’s Modi vision for India,” Mark Fields, chief executive of Ford, said at the launch event on Thursday. “We are happy to be making in India for India and for the world.”
Ford Makes a Billion-Dollar Bet India Can Become an Auto-Export Powerhouse - India Real Time - WSJ
