Ford plans to launch three new models – Mustang, Endeavour and Figo – by 2017.

The Mustang, priced at INR6.5m (US$97,297), will have the five-litre V8 petrol engine. It is scheduled to be launched in 2016.

The updated Figo will be offered with two engines – a 1.5-litre DV5 diesel and a 1.2-litre petrol TiVCT unit, reported. The hatchback will be built at the company's plant in Gujarat.

It will offer ABS, airbags and integrated music system and will be priced from INR390,000 to INR650,000.

Ford will also launch the latest Endeavour SUV in 2016.