NEW DELHI: Ford India plans to set up a factory near the southern Indian city of Chennai dedicated to exporting car kits assembled from auto components sourced locally, the company said. The firm also will export kits for the Ikon high-end small car model, which the firm plans to launch in India by the end of 1999. The U.S.-based Ford Motor Co. owns 78% of the Indian firm. A team from the company's export division is at the site to work out the details of the plan, a company statement said. Meanwhile, United News of India reported that Ford would launch the petrol and diesel versions of Ikon in November. The car is to be priced at over 400,000 rupees (US$9,200). The company plans to manufacture 25,000 units of Ikon in the first year.