Bengaluru, Jan 5 : The world’s eighth largest automaker FCA will invest USD 250 million in India to produce four new products that would be launched by the end of 2022.
The investment will be in the all-new local vehicle line-up including the 2021 made-in-India ‘Jeep Compass’, a locally produced Jeep, the global-first three-row Jeep SUV, as well as the iconic Jeep Wrangler and next generation Grand Cherokee flagship, which will both be locally assembled in FCA’s joint venture manufacturing facility in Ranjangaon.
The four new products will be on Indian roads by the end of 2022, said the release.
The 2021 Jeep Compass, production of which has already begun, is set to be unveiled in India on January 7. The luxury seven-seat mid-size Jeep, codenamed H6, will be launched in 2022.
Speaking on the occasion, FCA India Managing Director Dr Partha Datta said, “Our new investment of USD 250 million will give us a competitive edge in multiple segments with our new Jeep SUVs rolling out of Ranjangaon.”
Dutta added “This investment is in addition to USD 450 million we have already committed to our Indian operations over the past five years. We are delighted to announce our exciting new products, coupled with our continued commitment to India in Jeep brand’s 80th anniversary year”.
FCA recently announced its footprint expansion in India with an investment in a Global Digital Centre in Hyderabad.
The automotive group also expanded its Engineering operations recently and will be creating at least 1000 new jobs by the end of 2021. In 2015, FCA invested in the local development and production of the Jeep Compass in Ranjangaon.
In addition, FCA has upgraded power trains to meet BS-VI regulations and invested in transmission and drive-line development for product configurations offered in India.
Dr Datta said, “We are determined to increase locally-made componentry in our vehicles which are produced in our joint venture manufacturing facility. Our plans in India are aimed at increasing the value proposition for customers through our products and services, working hard on customer satisfaction and unlocking business opportunities for our business partners.”