NEW DELHI (AP) -- Ford Motor Co. says it will manufacture a compact car in India as it seeks to boost sales in fast-growing Asia.
The "Figo", which is Italian slang for 'cool', will initially be for sale in India but there are also plans to export the car to other Asian countries, Ford executives told a press conference. Production is slated to start in the first quarter of next year.
"This new car will be a game changer," said Michael Boneham, president of Ford India. "It will give us muscle in the heart of the Indian market."
Ford plans to double production capacity at its plant in the southeastern city of Chennai to 200,000 vehicles a year, part of a $500 million India investment plan announced last year.