Ford India has announced its plans to increase the number of markets for the Figo hatchback exports from the current 34 to 50 by the end of 2012. The company has been expanding export markets for the Figo and has added the Lebanon market in March 2012. Other markets include Mexico, UAE, Caribbean and North Africa. According to Mr. Michael Boneham President and Managing Director Ford India, the hatchback is being exported to markets similar to India that require small cars.
The American car manufacturer is increasing its manufacturing capacity by setting up a Rs 5,000 crore facility in Sanand Gujarat in India which will play a significant role in the global growth of the company. The plant spread across 460 acres will start operations in early 2014 with an annual capacity of manufacturing 2,40,000 cars and 2,70,000 engines.
