In a statement issued here, Ford said the new investment will be for expansion of capacity at its car plant near here and for setting up of a new global engineering and technology centre.
However the statement is silent on the value of investment to be made.
Representatives from Ford and the Tamil Nadu government signed a memorandum of understanding (MoU) at Global Investor Meet, paving the way for a Ford campus across 28 acres land.
“India is at the centre of innovation at Ford and we are delighted to strengthen our presence with a new global engineering and technology centre,” Ford Asia Pacific president Dave Schoch was quoted as saying in the statement.
Besides the establishment of the centre, the new Ford campus will host operations of Ford Global Business Services in areas of information technology, product engineering, finance and accounting, data analytics, manufacturing among others.
Spread over 300 acres, the Ford Chennai plant presently has an installed annual capacity to produce 200,000 vehicles and 340,000 engines. Ford operations in Tamil Nadu also include global business services, with offices in Chennai and Coimbatore.
According to Ford, vehicles made at its Chennai and Gujarat plants as shipped out and plans afoot to sell Made in India products to 50 countries.