US based famous automobile manufacturer Ford Motor company unveiled their newly developed small segment car Figo that is specially designed for the Indian roads. The new Ford Figo is expected to be launched early next year. The compact car will be manufacturered in the company's Chennai plant and supplied to the domestic market as well as for exports.
Ford Motor Company President and CEO Alan Mulally says "Our plan for India involves accelerating development of fuel efficient small cars. The small car market in India will double in the next ten years; and we are focussing on this segment. We are investing $500 million in expanding its production capacities at the Chennai facility to two-lakh units annually from the existing one-lakh units a year, besides producing 2.5 lakh engines every year".
The Ford India announced that the Figo would be available in the first quarter of the next year. Figo, designed and engineered to compete in India's small car segment, leverages Ford's small-car platform architecture, sharing underlying technology with the sedan Fiesta.
The new Ford Figo features a fresh shape when compared to other cars in this segment. The new Figo is likely to be introduced in both petrol and diesel variants.
Though the company didn't reveal the price or specifications of the Figo, the approximated price could be below Rs.4 lakh.
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