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Ford Motor Unveils First Small Car In India
September 23, 2009: 03:37 AM ET
NEW DELHI -(Dow Jones)- Ford Motor Co. (F) Wednesday unveiled the Figo - its first small car to be produced in India - as the U.S. automaker seeks to gain a foothold in the emerging South Asian car market and make the country a global production hub for small cars.
The four-door hatchback will be produced at Ford India's factory in the port city of Chennai, the company said.
Ford said the Figo - which is colloquial Italian for "cool" - will be sold in India and <font color="ff0000">exported to international markets.</font>
The company will announce additional details about the car closer to its commercial introduction early next year.
"Our exciting new Ford Figo shows how serious we are about India," said Alan Mulally, Ford's president and chief executive. He said the new car reflects Ford's commitment to compete in all segments of India's car market.
Ford will source up to 85% of the parts for the small car from suppliers in India, the company said.
September 23, 2009: 03:37 AM ET
NEW DELHI -(Dow Jones)- Ford Motor Co. (F) Wednesday unveiled the Figo - its first small car to be produced in India - as the U.S. automaker seeks to gain a foothold in the emerging South Asian car market and make the country a global production hub for small cars.
The four-door hatchback will be produced at Ford India's factory in the port city of Chennai, the company said.
Ford said the Figo - which is colloquial Italian for "cool" - will be sold in India and <font color="ff0000">exported to international markets.</font>
The company will announce additional details about the car closer to its commercial introduction early next year.
"Our exciting new Ford Figo shows how serious we are about India," said Alan Mulally, Ford's president and chief executive. He said the new car reflects Ford's commitment to compete in all segments of India's car market.
Ford will source up to 85% of the parts for the small car from suppliers in India, the company said.