Fiat Chrysler eyes expansion in India with $250 million investment
In a bid to expand its presence in India, Fiat Chrysler Automobiles (FCA) will invest $250 million in the country. As part of the plan, the company will launch four new SUVs under its Jeep brand over the next two years. The latest infusion of money takes FCA's total investment in India to over $700 million, including $150 million in a new technology center.
According to FCA, the fresh capital will be utilized to locally manufacture a mid-sized 3-row SUV, a new version of the Jeep Compass, as well as assemble the Jeep Wrangler and Cherokee models in the country. By adding new vehicles to its line-up, FCA aims to increase local sourcing of components, reduce production costs, and boost sales.
FCA will produce upcoming SUVs at its plant in Ranjangaon, Maharashtra, which it jointly owns with Tata Motors as part of a 50:50 partnership. The new three-row SUV, that will take on rivals like Ford Endeavour and Toyota Fortuner, will also be manufactured there.
FCA's Jeep brand is all set to launch the facelifted version of the Compass SUV in India on January 7. It offers an updated design, featuring a chrome-covered grille with vertical slats, a refreshed bumper, and new alloy wheels. Inside, the cabin gets a reworked dashboard with leather inserts, new AC vents, and a 10.1-inch touchscreen infotainment system.
The upcoming Jeep Compass (facelift) will be available with a 2.0-liter diesel engine that churns out 173hp/350Nm and a 1.4-liter turbo-petrol unit that produces 163hp/250Nm. Transmission duties will be handled by a 6-speed manual, a 7-speed DCT, and a 9-speed torque converter automatic gearbox.