FCA Bets Big On Jeep SUVs, To Invest Rs. 1830 Crores More In India
Four new Jeep SUVs, including the 7-seater Compass, will hit Indian roads before the end of 2022.
Fiat Chrysler Automobiles (FCA) will increase its investment in India to the tune of $250 million (about Rs. 1830 crores) to launch 4 new SUVs before 2022-end under its Jeep brand.
The automaker revealed today that the investment will be made to launch the 2021 Jeep Compass, locally manufacture a 3-row midsize SUV and locally assemble the Jeep Wrangler and Cherokee vehicles.
All these products will be manufactured and assembled at FCA’s facility in Ranjangaon that it jointly owns with Tata Motors and all of them will be on Indian roads by the end of 2022.
On 7th January, Jeep will be launching the 2021 Compass facelift, while the other midsize SUV in question is likely to be the 7-seater Compass that has been much awaited.
Codenamed H6, the 7-seater Compass will be launched come 2022, while the locally assembled Wrangler and Cherokee SUVs from Jeep are also expected in the same year.
With less than 1 percent market share, the latest round of FCA India investment will ensure the carmaker increases its product portfolio and consequently its sales.
Further, the automaker says it will increase the use of locally-made components in its vehicles, achieve better economies of scale and crucially reduce costs.
Thus far, FCA has invested over $700 million (Rs. 5120 crores) in India, including $150 million (Rs. 1100 crores) allocated for its new global digital hub FCA ICT India that will come up in Hyderabad.
Source – Reuters.com