MUMBAI: FCA India Vehicles Pvt Ltd, a subsidiary of Italian-American carmaker Fiat Chrysler Vehicles or FCA Group, has earmarked contemporary funding of $250 million to broaden its portfolio of regionally constructed and assembled sport utility automobiles (SUVs).
“FCA right now introduced an growth to the native product lineup in India, confirming that an funding of over $250 million has been dedicated in the direction of the manufacturing of 4 new Jeep SUVs,” the corporate stated in a word on Tuesday.
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The 4 new SUV launches deliberate over 2021-22 embody the regionally manufactured Jeep Compass and a three-row Jeep SUV, which the corporate says is an all-new automobile in its international portfolio.
The refreshed Jeep Compass is scheduled for business launch later this week. The corporate stated it has already commenced the manufacturing of the up to date SUV vary.
In the meantime, the all-new three-row, seven-seater, midsize Jeep SUV, codenamed H6, is deliberate for business launch subsequent 12 months, the corporate stated.
In a contemporary transfer, FCA additionally plans to regionally assemble its iconic Jeep Wrangler and the subsequent technology Grand Cherokee, it’s flagship SUV. The 2 automobiles could be assembled at FCA’s three way partnership manufacturing facility at Ranjangaon, close to Pune.
The 4 new merchandise can be on Indian roads by finish 2022, the corporate stated.
“The brand new funding ($250 million) is along with $450 million we’ve already dedicated to our Indian operations over the previous 5 years,” stated Partha Datta, managing director, FCA India, including that it will give the corporate a aggressive benefit in a number of premium SUV segments.
At the moment, the Jeep Compass, which competes with Tata Harrier, Mahindra XUV500, Hyundai Tucson, MG Hector amongst others is the one regionally produced SUV offered by the corporate.
Whereas the Ranjangaon unit, the place the Jeep Compass is produced, is likely one of the 5 different crops globally, the corporate stated it has produced greater than 70,000 items since its launch in 2017. That features 50,000 items of the Compass offered in India and over 20,000 items exported over the previous 3 years.
It additionally imports and sells Jeep Wrangler as a totally constructed unit (CBU) however the firm stated it has already offered all of its CBU inventory final 12 months.
Final month, the corporate stated it had arrange a worldwide expertise heart, additionally known as the Data and Communication Expertise Middle or FCA ICT, in Hyderabad, at an funding of $150 million.
Whereas the brand new unit is FCA Group’s largest innovation and expertise improvement heart exterior of North America and EMEA (Europe, Center East, Africa) nations, the corporate seeks to faucet India’s huge expertise pool of software program engineers and create as much as 1,000 new jobs by end-2021.
“We’re decided to extend locally-made componentry in our automobiles that are produced in our three way partnership manufacturing facility. Our plans in India are aimed toward growing the worth proposition for patrons by way of our services, working arduous on buyer satisfaction and unlocking enterprise alternatives for our enterprise companions,” Datta stated.