London: India is emerging as an auto manufacturing centre with Ford also choosing to manufacture its new small car Figo here- the latest in the new wave of small cars to be built in the country by foreign car makers.
The four-door hatchback will be built in Chennai where the company has invested $500 million to double the capacity of an existing plant to 200,000 units a year, the Times reported.
It will be sold both in India, which has a 250 million plus middleclass, and overseas.
The company, which had incurred losses to the tune of $30 billion between 2006 and 2008, hopes that the young Indian population would go for the new car in a big way and help turn the company’s fortune.
General Motors, Toyota, Honda, Volkswagen and Nissan sell small cars in India or will do so soon. Tata took the initiative in this regard with its Nano costing Rs one lakh plus taxes and delivery charges.