India’s role as an important player in the future of Ford’s new global strategy was underscored today when CEO Alan Mulally unveiled an all-new car targeted at the rapidly growing market. The car is the new Figo hatchback and is scheduled to enter production at a newly renovated plant in Chennai in India's southern region.
The Figo is designed and engineered to compete in India’s small car segment, which accounts for more than 70% of the new vehicle market. Sharing much in common with the globally-oriented Fiesta, the Figo also adopts the Blue Oval’s kinetic styling and could preview a new low-cost model to be sold in other developing markets.
Ford is reserving further details about the vehicle until closer to its sales launch early next year.
The announcement of the Figo is a major step for Ford’s Indian division, which was established as recently as 1995. The division currently has more than 2,300 employees and its lineup includes cars like the Ikon, Fusion, Endeavour and the Fiesta. Furthermore, the introduction of the new Figo marks a significant shift for India’s role in Ford’s strategy as the cars will eventually be produced at the Chennai plant for export to international markets.