Ford Motor says to invest $75 million in India


MUMBAI, Oct 28 (Reuters) - Ford Motor Co. said on Friday it would invest a further $75 million in India to support its future growth plans in Asia's third-largest economy.

Chairman and Chief Executive William Ford Jr. was recently in India to launch the new Ford Fiesta, which will shortly go on sale in India.

"Ford India has received approval from Ford Motor Company for an additional equity infusion of $75 million to meet the needs of our future plans," Arvind Mathew, managing director and president of Ford India, said in a statement.

Ford has invested $375 million in its manufacturing facility near the southern city of Chennai and other operations in India.

Ford began operations in India in 1996 as a joint venture with Mahindra & Mahindra . Earlier this year, Ford India became a wholly owned subsidiary of Ford Motor Co.



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