We propose to introduce new models into the market in the next 12 to 24 months and continue to expand our operations in Indian market, Mr Friedman said.
The company anticipates doubling its sales in the next year. While the company is selling about 20,000 vehicles in the domestic market, it is exporting the similar number of vehicles to South Africa, Mexico, Brazil apart from sending components to China.
Ford Motor Company had established a joint venture with Mahindra & Mahindra, in November 1995, to assemble and distribute its first market offering in India, Ford Escort.
Later in February 1999 it had changed its name to Ford India Ltd increasing its holding to majority. The present Ford holds 85 per cent of the equity in the company. Mr Friedman said that the company is in a position to invest the incremental investment required for launching new models.