The failure of auto bailout package, including that of its parent in the US notwithstanding, Ford India today said its $500 million investment plans for the country are on track.
"Our investment plans have not changed," a Ford India spokesperson said.
She, however, did not take questions on how the company was planning to fund the investments.
The US Senate had shot down a $14 billion rescue package of the Big Three -- GM, Chrysler and Ford. As the parents struggle, questions have been raised on the capability of these companies to fund their expansions in other parts of the globe.
Ford India had earlier this year announced $500 million investment to expand operations, which include adding capacity to the existing facility in Chennai for manufacturing a new small car, besides setting up a fully integrated and flexible engine manufacturing facility to produce petrol and next generation diesel engines for domestic and export markets.
Production of the small car is scheduled to commence within the next two years, increasing the company's overall annual production at the expanded plant to 2,00,000 units by 2010.
