US car maker Ford Motor Company today said it will invest $72 million (nearly Rs 325 crore) in expanding its diesel engine production capacity by over 30% in India within next one year.
Production will rise to 330,000 engines by mid-2012, the company said, creating over 300 new jobs, at the plant where it currently produces petrol and diesel engine variants for Ford cars.
“This investment supports our plan to introduce eight new global Ford vehicles in India by 2015,” Michael Boneham, president and managing director of Ford India said in the statement.
This expansion will allow the company to provide more technologically advanced and fuel-efficient engines to the customers in India and in markets around the world where the company exports Chennai-built vehicles, he added.
The Indian plant is the first Ford facility to feature single flexible production line manufacturing petrol and diesel engines.
It is also the first Ford plant to run a flexible production line producing crank shafts for petrol and diesel engines.
At this momement, the automaker produces five Duratec petrol engine variants and one Duratorq diesel engine variant for Ford vehicles.