Industry

Fiat Chrysler to invest $250 mn in product line

Fiat Chrysler Automobiles announced an expansion in the local product line-up at an investment of more than $250 million.

The new 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, which would both be locally assembled at FCA’s joint venture manufacturing facility at Ranjangaon in Maharashtra.

The products would be on Indian roads by the end of 2022, the company said.The 2021 Jeep Compass will be unveiled in India on January 7, 2021 and production has already commenced.

“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 Partha Datta, MD, FCA India. “This investment is in addition to the $450 million we have already committed to our Indian operations over the past five years.” FCA recently announced its footprint expansion in India with investment in a global digital centre in Hyderabad. It also recently expanded its engineering operations and will create 1,000 new jobs by the end of 2021, it had said.

The Jeep brand made its debut in India in 2016, followed by the introduction of Jeep Compass in 2017.

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Printable version | Mar 1, 2021 4:20:00 AM | https://www.thehindu.com/business/Industry/fiat-chrysler-to-invest-250-mn-in-product-line/article33503919.ece

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