Chennai: US auto major Ford on Tuesday announced the setting up of its new research and development centre at a cost of Rs 1,300 crore.
Ford’s Executive Chairman Bill Ford made an official announcement regarding the investment plan in Chennai.
The automaker will invest $195 million (around Rs 1300 crore) and hire 3,000 skilled people for the new centre over the next 5 years.
It will serve as a hub for product development, mobility solutions and business services in India and other markets across the world.
Ford will also consolidate 9000 employees from its six existing facilities, spread over a campus area of 28 acres, in Chennai.