Mumbai: Ford Motor Co. said on Friday that it would invest a further $75 million in India.
The announcement was made during the visit of the Chairman and Chief Executive William Ford Jr. who was recently in India to launch the new Ford Fiesta.
"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," Managing Director and President of Ford India Arvind Mathew, said in a statement.
Ford has already invested $375 million in its manufacturing facility near Chennai and in other parts of the country.
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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