The firm, which in September final yr had introduced that it could cease automobile manufacturing at its two crops within the nation as a part of a restructuring train, mentioned it’s exploring different alternate options for its manufacturing services at Chennai and Sanand in Gujarat.
As a part of the continuing enterprise restructuring in India, Ford has continued to discover potential alternate options for its manufacturing services. This included making use of for the production-linked incentives scheme, which allowed us to discover utilising one of many crops as a possible EV manufacturing base, a Ford India spokesperson mentioned.
“After careful review, we have decided to no longer pursue EV manufacturing for exports from any of the Indian plants. We remain grateful to the government for approving our proposal under the Production-Linked Incentives and for being supportive while we continued our exploration,” the spokesperson added.
Ford was among the many 20 automotive companies, together with the likes of Tata Motors, Suzuki, Hyundai, Kia and Mahindra & Mahindra, that received approval for the Rs 25,938 crore Production-Linked Incentive (PLI) scheme for the car trade in February this yr.
On the way forward for the corporate’s two crops, the spokesperson mentioned, “Ford India’s previously announced business restructuring continues as planned, including exploring other alternatives for our manufacturing facilities. We continue to work closely with unions and other stakeholders to deliver an equitable and balanced plan to mitigate the impacts of restructuring.”
The firm has been reported to be in talks with homegrown auto main Tata Motors to promote its Sanand plant whereas it’s scouting for patrons of the Chennai plant.
Last yr, after practically three many years of struggling to make a mark in India, Ford Motor Co determined to cease automobile manufacturing at its two crops within the nation and promote solely imported automobiles going forward as a part of a restructuring train.
The firm, which invested about USD 2.5 billion at its Chennai (Tamil Nadu) and Sanand (Gujarat) crops, has incurred losses of over USD 2 billion in India.
As per the plan, the automobile meeting in Sanand plant was stopped by the fourth quarter of 2021 and, automobile and engine manufacturing in Chennai can be stopped within the second quarter of 2022.
It will, nevertheless, proceed to fabricate engines from its Sanand plant which can be exported to the corporate’s international operations.
Source: www.financialexpress.com”