May 17, 2011
Ford Motor (F) announced today that it will invest $72 million to expand its powertrain facility in Chennai. The move is expected to further support the company's sales and export growth plans in India.
The company stated further that the expansion program will be completed in mid-2012. By then, it noted, the engine plant's production capacity will have increased from 250,000 to 330,000 units per year, an additional output of 80,000 diesel engines annually.
The expansion of F's diesel engine production capacity will bring its total investment in India to more than $1 billion, the company added.
Shares are down 1.55% to $14.90.
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