Automobile manufacturer FCA will expand local product line-up in India with an investment of over $250 million.
The company has committed towards the production of four new Jeep SUVs.
Accordingly, the all-new local vehicle line-up includes the 2021 made-in-India Jeep Compass, a locally produced and global-first three-row Jeep SUV, the Jeep Wrangler, and next generation Grand Cherokee flagship, which will both be locally assembled in FCA's joint venture manufacturing facility in Ranjangaon.
All the four new products will be on the Indian roads by the end of 2022, the company said in a statement.
The 2021 Jeep Compass is set to be unveiled in India on January 7, 2021, for which production has already commenced.
The luxury seven-seat mid-size Jeep, codenamed H6, will be launched in 2022, it said.
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"Our investment of $250 million more will give us a competitive edge in multiple segments with our new Jeep SUVs rolling out of Ranjangaon," said FCA India Managing Director Partha Datta.
"This investment is in addition to $450 million we have already committed to our Indian operations over the past five years."
Recently, the FCA announced its footprint expansion in India with investment in a Global Digital Centre in Hyderabad.
"The automotive group also expanded its Engineering operations recently and will be creating at least 1,000 new jobs by the end of 2021," the statement said.
In 2015, the FCA invested in the local development and production of the Jeep Compass in Ranjangaon.
Additionally, the FCA has upgraded powertrains to meet BS-VI regulations and invested in transmission and drive-line development for product configurations offered in India.
"We are determined to increase locally-made components in our vehicles which are produced in our joint venture manufacturing facility," Datta said.
"Our plans in India are aimed at increasing the value proposition for customers through our products and services, working hard on customer satisfaction and unlocking business opportunities for our business partners."
The Jeep brand made its debut in India in 2016, followed by the launch of the award-winning Jeep Compass in 2017.