Fiat Chrysler Automobiles that sells the Jeep brand of SUVs in India on Tuesday announced a fresh $250 million (Rs 1,850 crore approx.) investment towards expansion of its local product lineup in the country. Since 2015, when the Jeep brand made an entry into India, the company has already invested $450 million in the country.
The fresh investment will be towards production of four new Jeep SUVs which includes the refreshed Compass which is slated for launch shortly, and an all new three-row Jeep SUV. Further, the iconic Jeep Wrangler and next generation Grand Cherokee flagship SUVs would be locally assembled at the company's Ranjangaon facility. The four new products will be on Indian roads by the end of 2022.
The 2021 Jeep Compass is set to be unveiled in India on January 7, 2021 and production has already commenced. The luxury seven-seat mid-size Jeep, codenamed H6, will be launched next year.
"Our new investment of $250 million will give us a competitive edge in multiple segments with our new Jeep SUVs rolling out of Ranjangaon," said Dr. Partha Datta, managing director, FCA India. "This investment is in addition to $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."
Only last month, FCA had announced investment in a Global Digital Centre in Hyderabad and also expanded its engineering operations which will create at least 1,000 new jobs by the end of 2021. In 2015, FCA had invested in the local development and production of the Jeep Compass in Ranjangaon. In addition, the company has upgraded powertrains to meet BS-VI regulations and invested in transmission and drive-line development for product configurations offered in India.
"We are determined to increase locally-made componentry in our vehicles which are produced in our joint venture manufacturing facility," Dr Datta added. "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."
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