During this pandemic, investments are hard to get. FCA though has decided to ramp its operations in India with an investment of Rs 1110crore. FCA along with the Telangana government is setting up a digital global hub in the state. The company’s new technology centre will be its biggest outside of North America. This investment is also said to increase FCA’s presence in the country. More than 1,000 new jobs will be created because of this digital hub by end-2021. There are also plans to hire more people in the next two-three years. These new recruits will focus on cutting-edge tech automobiles as well as exciting new products, says FCA. Niche technology sectors like connected vehicle, data accelerators, artificial intelligence and cloud computing will also be in the focus. The main reason for selecting Hyderabad was because of its affinity with the IT sector and a rich talent pool.
FCA is looking to globally digitise its vehicle operations. India will take the forefront of these operations. This should be a good move by FCA as its will help negate incidences where showrooms have to remain shut during situations like the COVID-19 pandemic. Partha Datta, the president and MD of FCA India said that this fresh investment will cement the company’s commitment towards its customers. He further added that FCA ICT India will be a backbone as far as technology is concerned and will help the company develop new products. Products made here, like the Jeep Compass, will also be exported with world-class tech.
On their part, the Telangana government welcomed FCA to the state and promised their full co-operation in setting up the new technology hub. FCA currently has facilities in Pune, Chennai and now Telangana. In other news, the updated Jeep Compass production has likely started at the company’s Ranjangaon plant. The launch is scheduled for the first half of January 2021.
Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.