Ford Motor Co. strikes a deal with Hindustan Motors Ltd. to manufacture engines and transmissions in India for its Ikon car. Hindustan will make about 20,000 powerplants and gearboxes annually at its Pithampur plant in central India beginning later this year. As a result, Ikon’s local parts content will increase from 75% currently to 90%. Ford launched Ikon production in 1999.

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