US car major Ford Motor plans to invest Rs 1,300 crore in a new global technology and business centre in the city which would serve as a hub for product development, mobility solutions and business services for India and the world.
The automaker will invest USD 195 million (about Rs 1,300 crore) and would employ 3,000 workers over the next five years, Ford Executive Chairman Bill Ford said here today.
Ford will also consolidate 9,000 employees from six existing facilities on the 28-acre campus at Old Mahabalipuram Road, Thoraipakkam.
With 12,000 employees in total by 2019, the Chennai facility will become the company's second largest centre of employment globally after Michigan, the US.
"Chennai is Ford Motor company's home away from home (after United States)," he told reporters here.
Ford said India is not only a vibrant market for cars and new mobility ideas, it is also rich in talent, technical expertise and ingenuity.
"We have invested more than USD two billion till today. We are announcing new investments here today. This will serve as a hub and the new campus will be environment friendly," he said.
"This new centre will help us attract the best and brightest and make Chennai a true hub of innovation for Ford around the world," Ford said.
The first phase of the new campus is likely to be completed by March 2019, he said.
The Global Technology and Business Center in Chennai will become Ford's third global product development in Asia Pacific and will be part of Ford's global product development network.
As well as housing engineering talent, the campus will be home to employees from IT, finance, accounting, data analytics and manufacturing sector.
The centre will employ Indian engineers, scientists and skilled workers and feature a range of laboratories and testing facilities.
Ford India witnessed a 25 per cent growth in the domestic market and 40 per cent on the overseas market, Ford Asia Pacific President David Schoch said.
"We want to express our deepest gratitude to the Tamil Nadu government and Chief Minister J Jayalalithaa for working with Ford over many years to make this vision a reality", he said.
(REOPEN MCM15)
Meanwhile, an official release said Bill Ford called on Tamil Nadu Industries Minister M K Sampath and invited Chief Minister J Jayalalithaa to formally inaugurate the Centre when it is completed in 2019.
Ford, along with company officials, met Sampath at the Secretariat and thanked the government for its support. The company which set up its manufacturing facility at Maraimalai Nagar near Chennai has invested Rs 1,700 crore in Tamil Nadu, an official release said.
During the meeting, Bill Ford extended his wishes for the speedy recovery to Chief Minister Jayalalithaa, who was admitted to a corporate hospital here on September 22.
Chief Secretary Ram Mohan Rao, Advisor to the Government Sheila Balakrishnan, Finance department Principal Secretary, K Shanmugam and senior officials were present on the occasion, the release added.
