Jul 27, 2011
Ford is planning to build a second car plant in India. According to a person briefed in the matter, Ford will invest $1 billion in the plant that will employ 5,000 people and begin producing cars in 2014.
The company said in the e-mailed reply to questions, "Ford continues to pursue an aggressive growth strategy in India to bring world class vehicles. As part of its plan to introduce eight new products by the middle of the decade Ford is significantly expanding its capacities in its existing facility in Tamil Nadu as well as exploring other options to meet the growing demand of consumers in India and export markets across the world."
Ford Motor (NYSE:F) has a potential upside of 59.3% based on a current price of $12.35 and an average consensus analyst price target of $19.67.
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