US auto major Ford will invest Rs 750 crore in Tamil Nadu through its Indian subsidiary Ford India. The company is planing to make the additional investment in its existing Maraimalai Nagar plant, 45 km from here, to produce its new model Ford Eco Sport.
Michael Boneham, president and managing director, Ford India met chief minister J Jayalalithaa in this regard.
Ford had set up its first unit in Chennai in 1995 during the earlier tenure of Jayalalithaa as chief minister. This was the first major investment by a foreign company in TN in the automotive sector, which paved way for subsequent automobile investments in Tamil Nadu.
Ford has so far invested Rs 4,500 crore in its assembly and engine plants at the Maraimalai Nagar facility and employs more than 5,000 people. This includes an investment of Rs 380 crore after the present government took office in May, 2011. This has provided additional employment opportunities for 340 persons.
The company produces Ford Figo, Ford Fiesta Classic, Ford Endeavour and the recently launched All-New Fiesta at the Maraimalai Nagar facility.
Boneham informed that Ford India has now decided to make additional investment of Rs 750 crore in the existing plant to produce their new model called Ford Eco Sport. This will create additional employment opportunities for about 400 people. Ford has also set up its global business service centres in Chennai and Coimbatore, which together employ more than 5,000 people, many of them young women.
