Unfortunately, this complex isn't in the USA - it's in India! While there is nothing to stop Ford from making money in other territories, it is sad that Ford isn't building $1 billion factories in the United States.
US auto giant Ford has started construction on a $1 billion manufacturing and engineering complex in India as it bets on the country to help drive global growth, a company statement said on Tuesday......The complex highlights the automaker's plan "to aggressively grow the Ford brand in India," said Ford India president Michael Boneham.
The official press release from Ford is below.
Ford India Sales Up 45 Percent for the Year; Announces New Plants in Gujarat
* Ford India has sold 71,347 wholesale and export units so far this year, representing year-over-year growth of 45 percent
* The company is investing Rs 4000 crore (approx. USD 1 billion) in India to build vehicle manufacturing and engine plants in Sanand, Gujarat
* The recently launched All-New Fiesta expands Ford’s portfolio and offers a best-in-class experience to customers
NEW DELHI, India, 1 August, 2011 – Ford India’s sales performance this year reinforces its decision to invest approximately USD 1 billion to build a new integrated manufacturing facility in Gujarat (emphasis added).
Ford India, which just launched the All-New Fiesta, sold 71,347 wholesale and export vehicles from January to July 2011, compared to 49,131 units sold during the same period last year – a 45 percent increase year-over-year.
In July 2011, the company had combined wholesales and exports of 10,706 units, compared to 9,666 units in July 2010.
As part of its aggressive global expansion, Ford India and the State of Gujarat signed a Memorandum of Understanding (MoU) in Gandhinagar on July 28 to build a state-of-the-art vehicle manufacturing plant and an engine plant on a 460-acre site in Sanand.
“These are exciting times for Ford in India,” said Michael Boneham, president and managing director, Ford India. “We are investing in the future and reinforcing our long-term commitment to India by building two new plants in Gujarat and by adding the All-New Fiesta to our portfolio. The All-New Fiesta is the first of eight new vehicles we will bring to India by mid-decade.”
Fuel-efficient diesel variants of Ford vehicles have been in high demand, due to rising fuel prices, creating a customer waiting list. Ford India is expanding its engine plant in Chennai and working with diesel engine part suppliers in order to better meet the strong demand.
“We appreciate our customers’ patience as we work with our suppliers to remove capacity constraints, and ensure we can meet the ever increasing demand for Ford products,” added Boneham. “The All-New Fiesta is a great addition to our portfolio and has had a tremendous reaction from customers so far. We are pleased to have sold over 70,000 vehicles to local and international markets this year.”
The All-New Fiesta, which went on sale July 14, brings many segment-leading technological firsts, such as a voice-controlled in-car entertainment and climate system and Cruise Control, in a stylish, fuel-efficient package.
Led by a surging demand for the compact Ford Figo, Ford India exported more than 3,200 cars to 26 markets, including seven new ones, in July. “It is great to see that in addition to selling over 100,000 units here in India, overseas demand for Figo is high and consistently boosting our exports,” Boneham concluded.
About Ford in India
Established in 1995, Ford India is a wholly owned subsidiary of Ford Motor Company, a global automotive industry leader. Ford India manufactures and distributes automobiles and engines made at its modern integrated manufacturing facilities at Maraimalai Nagar, near Chennai. The company’s models include the Figo, Fiesta Classic, Endeavour and the recently launched All-New global Fiesta.
Ford’s operations in the country also include Global Business Services, comprised of Ford Business Services Center and Ford Technology Services India. Located in Chennai and Coimbatore, these units support Ford globally in the areas of IT, accounting and finance, financial services and automotive operations support, global analytics and engineering services. Ford’s businesses in India employ 10,000 hard-working, dedicated men and women.
For more information, visit www.india.ford.com