Ford Motor Co is banking heavily on its subsidiaries in India and China to tide over the unprecedented crisis that has gripped American automobile manufacturers. "India is a great market to be in, particularly so at these challenging times. The $500 million funds injection to expand operations in the country is on schedule," Ford India vice-president (sales) Timothy Tucker said.
The new investment increases Ford's total financial commitment in India to more than $875 million, and underscores its plan to elevate India as one of the strategic production hubs for small cars. In 2007, the company launched a small car production facility in Nanjing, China, for $510 million.
Ford is the only one among the US big-three that has not sought emergency federal aid. "Ford is arranging for funds on its own to make way through this tough time. Our presence in large markets like India and China are a comfort. When we launch the small car in India early next year, it will mark our entry into the mass segment and shore up marketshare," Tucker said.
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