An iconic American brand is setting up shop in India.
Jeep officially launched its first vehicle produced in India — the 2017 Compass — at an event in Mumbai on Monday.
The Compass marks a major new commitment for Jeep in India. It already sells Wrangler and Cherokee models in the country, but those vehicles are imported from the United States.
“It is expanding into the world’s largest markets such as India that is fueling our growth and accelerating our expansion,” Paul Alcala, who heads the company’s operations in Asia, said during Monday’s launch.
Its decision to manufacture the popular SUVs in India underscores the battle for investment being waged by national governments.
President Trump has targeted American companies — including several automakers — who manufacture their products overseas, exhorting them to “Buy American, Hire American.” Fiat Chrysler has committed to investing $1 billion and creating 2,000 new jobs in the U.S., but the plan was in place before Trump took office.
The world’s top automakers have been making a beeline for India, which sold nearly 3 million passenger vehicles last year and is poised to overtake Japan as the world’s third-largest car market by 2020. Top global brands like Volkswagen, Peugeot, Citroen, Toyota and Kia have all stepped up their presence in the country over the last several months.
In November, Jeep rival Ford (start shipping its EcoSport SUV from India to the U.S.) announced it would
The gains, however, have been uneven. General Motors decided to stop selling its cars in India earlier this year but will continue to export Indian-made vehicles to Mexico, South America and Central America.
Credit: CNN Money