American automobile major Ford is planning to make India an export hub to export vehicles to about 50 countries. The company stated that about 40 percent of the engines being produced in India will also be exported overseas.
Mr. Joginder Singh, the new President and Managing Director of Ford India effective December 1, 2012 stated that company already exports the Figo hatchback to 35 auto markets across the globe and plans to increase the number to 50 overseas markets. He stated that the upcoming EcoSport compact sports utility vehicle will also be exported from India.
With the completion of the company’s Sanand facility in Gujarat in 2014, the total annual engine production will go above 6,00,000 units, 40 percent out of which will be exported. The vehicle assembly capacity will also increase to 4,40,000 units annually, stated Mr. Singh.
Talking about the growth plans of the company, Mr. Singh said that company expects to significantly increase its market share in India which currently stands at below 3 percent. He added that eight new car models are planned to be launched by the year 2015.
