Ford to launch 3 new SUVs in India, likely to invest another $1 Billion - Report
Ford is likely to invest another $1 billion in Indian operations over the next five to seven years. A sizeable portion of this investment would go into three new SUVs.
The report says that two new indigenously developed Ford SUVs are in the pipeline. One is a sub-4 metre B-SUV codenamed BX744 and due in 2021, and one is a premium B-SUV codenamed BX745 and planned for launch in 2022. The BX744 is an India-specific model. In all likeliness, it will replace the Ford EcoSport. The BX745 will be a Hyundai Creta rival aimed at not only India but also other emerging markets such as Brazil and China. No less than $500 million will be invested in the development of these SUVs in India. Additionally, $400-500 million will likely be invested in Project Black - Ford's partnership with Mahindra, under which a co-developed Ford C-SUV has already been confirmed.
Ford is not confirming the additional investment in India and the two new B-SIVs just yet. “Beyond independently penetrating the Indian market, Ford is looking at ways and means of participating in the global emerging market in tandem with Mahindra. A partial JV may not be ruled out… maybe one of the plants, but exiting is definitely out of question,” a person in the know-how of the latest developments has said.
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[Source - auto.economictimes.indiatimes.com]