Mumbai: Ford Indias luxury car Mondeo, planned to be made available in India from December, has been priced at around Rs 16 lakh, even as the company is still to get clearance from the Foreign Investment Promotion Board (FIPB) for the import of completely-built units of the car from Germany.

Ford India MD David E Friedman said the company is contemplating introducing a sports car to the Indian market after the Mondeo launch. Though the government is yet to formulate rules relating to the retailing of imported cars, Ford has gone ahead with plans to sell the Mondeo in the hope that the FIPB clearance will come through by mid-December and the new auto policy will be announced around the same time.

We are looking at India as a good source to build up exports. If the Indian policy falls in place, bookings for the Mondeo will start in December and delivery will commence by the month-end, says Friedman.

The Mondeo, to be available in both petrol and diesel versions, will be priced at around Rs 16 lakh, depending on the import duty. It will compete with Hyundais Sonata, which is priced at Rs 13.30 lakh, and Hondas Accord at around Rs 14 lakh. Loaded with luxury features, the Mondeo is the safest and toughest car built for Indian roads, a company executive says.