Fiat Chrysler Automobiles To Invest $250 Million In India For Production Of Four New Jeep SUVs
Fiat Chrysler Automobiles said it will invest $250 million (nearly Rs 1,825 crore) in India for production of four new Jeep SUVs in order to expand its local product lineup.
The company, which has already committed $450 million in its Indian operations over the past five years, said the four new products would be launched in India by the end of 2022.
"The all-new local vehicle line-up includes the 2021 made-in-India Jeep Compass, a locally produced and 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," Fiat Chrysler Automobiles India said in a statement.
Commenting on the development, India Managing Director Partha Datta said, "our new investment of $250 million will give us a competitive edge in multiple segments with our new Jeep SUVs rolling out of Ranjangaon."
Recently Fiat Chrysler Automobiles had announced $150 million to set up a Global Digital Centre in Hyderabad. The automotive group also expanded its engineering operations recently and had stated that it would be creating at least 1,000 new jobs by the end of 2021.
In 2015, the automaker had invested in the local development and production of the Jeep Compass in Ranjangaon, Maharashtra. In addition, it also upgraded powertrains to meet BS-VI regulations and invested in transmission and drive-line development for product configurations offered in India.