Mumbai: Car Automaker Ford Motors has announced that it will spend Rs 1,300 crore ($195 million) in a technology coming next five years. It will also invest money at business centers of Chennai to build up new products and design mobility solutions.
The company claimed, “Dearborn, Michigan-based Ford has already invested over $2 billion in India till date, will hire 3,000 people and bring in 9,000 from other centres in Chennai to staff the facility which will be operational by early 2019.”
Currently, Ford is emphasizing on rising markets of India where Ford cars are famous and deal with competitor brands including Maruti Suzuki India Ltd and Hyundai Motor Co.
This initiative by Ford is the second-largest technology setup outside India. For testing the products in India, the company has setup several laboratories and testing facilities for vehicles.
“India is not only a vibrant market for cars and new mobility ideas, it also is rich with talent, technical expertise and ingenuity,” Bill Ford, executive chairman of Ford, said in the statement.
Moreover, the new laboratories will contain specialized team workers to test financial analysis and future data analytics.