Ford Figo, much-awaited compact hatchback in India, will be launched in March 2010. The news is confirmed by a senior company official on the sidelines of launching production ready Ford Figo in Chennai, recently. The Ford Figo will be pitted against other small hatchback in India such as Maruti Swift, Maruti Ritz, Fiat Punto, Hyundai i10 and Hyundai i20. At present, small cars in India contribute to over 70 per cent total new cars sale. The US auto major has invested around 500 million dollor in the Chennai based facility. All Ford Figo hatchback's would be manufactured here only. Still investment is to be done in new engine facility that will have a production capacity of 2.50 lakh powertains per annum. Raj Nair, Ford VC, operations (Asia Pacific and Africa), told reporters here that the Ford Figo will be pitted against the likes of Maruti Swift and Hyundai i10 which are the largest selling small cars in India. However, he and Ford India MD and president Michael Boneham, did not disclose the price tag of Ford Figo. The car will be manufactured here for domestic and export purpose. Mr Boneham informed the media that the new engine plant will cater to the requirements of the Indian auto market. The best of engine producing practices would be used for developing world class powertrains at here. He added that 1.4L diesel and 1.2L petrol engine will be produced in the new engine facility. He further mentioned that sixty per cent of the petrol engine and seventy per cent of diesel engine components are being produced here in India only. The official claimed that the company will launch a series of new vehicles in the time frame of one and half year from now. Nevertheless, these yet-to-launch auto products would fall in compact car segment.