Fiat Chrysler to invest $250 million in India unit to launch new SUVs

FILE PHOTO: Fiat Chrysler Automobiles assembly workers build a 2020 Argo model, amid the spread of the coronavirus disease (COVID-19), at the Assembly Plant in Betim near Belo Horizonte, Brazil, May 20, 2020. REUTERS/Washington Alves

NEW DELHI (Reuters) - Fiat Chrysler Automobiles NV (FCA) said on Tuesday it will invest $250 million to grow its presence in India with the launch of four new sport-utility vehicles (SUVs) under its Jeep brand over the next two years.

The investment will be made to locally manufacture a mid-size, three-row SUV, assemble the Jeep Wrangler and Jeep Cherokee vehicles in the country and launch a new version of its Jeep Compass SUV, FCA said in a statement.