Ford lays foundation for $1b India factory
Ford Motor Co. laid the cornerstone for a new $1 billion dollar factory in India on Thursday, pressing ahead with expansion plans despite an uncertain outlook for Asia’s No. 3 economy where growth in car sales has recently waned. Ford’s plant will have the capacity to manufacture 240,000 cars and 270,000 engines a year when it’s complete in 2014. The factory will produce cars for domestic consumers and for export.