"To support the aggressive growth strategy, Ford India will be augmenting its subscribed capital. 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, Ford India MD and President said.
Ford India, which has its plant near Chennai, has invested around $375 million in India so far. The company began operations in 1996 in a joint venture with Mahindra and Mahindra and became a fully-owned subsidiary in 2005.
Highlighting the importance of the Indian market, the US auto giant earlier this week had the first public showing of its new mid-size premium car 'Fiesta', scheduled for commercial launch later this year.
Ford, on his maiden visit to the country, had promised further investments in the market. "This market (India) is critical to our plans for building a Ford Motor company for the 21st century," Ford had said after unveiling the new car, which will be available in a 1.6-litre petrol engine and a 1.4-litre common rail diesel engine.
Ford India currently sells four models in India, including the flagship 'Ikon', SUV 'Endeavour', premium sedan 'Mondeo' and the recently launched 'Fusion'.
