After Three Years Ford Back Again In the Indian Market: American motor manufacturer company Ford announced its return to India after three years. Three years ago the company announced its exit from the market but now the company has again entered in Indian market under a new strategy. On Friday, Ford Company submitted a letter of intent (LOI) to the government of Tamil Nadu, in which it has given information about its upcoming construction plans.
Ford has decided to focus its Chennai plant on manufacturing vehicles for global markets. Ahead of the move, state chief Minister MK Stalin had met with Ford leadership during his US visit. It is believed that after this meeting the plan of “MAKE IN CHENNAI” has taken place.
The Chairman of Ford International Markets (Kay Hart) said “We are grateful to the Tamil Nadu government. We have explored various options for the Chennai plant. This step highlights our continued commitment to India. because we intend to leverage the manufacturing expertise available in Tamil Nadu to serve new global markets. The company has refused to give detailed information at present
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Employment to the 1200 people:
Ford said in the statement that the company currently employs 12,00 people in Tamil Nadu. This number is likely to increase by another 2,500 to 3,000 during the next three years. The Ford company also has an engine unit in Sanand, Gujrat. Which is the second-largest salaried workforce worldwide.
Ford had announced his exit from the market in September 2021. After this company applied to participate in the government’s production-linked incentive (PLI) scheme. However, the company discontinued plans to manufacture electric vehicles (EVs) in India.
Ford sold his Gujrat plant to the Tata group and a deal was also signed with Sajjan Jindal-led JSW group to sell the Chennai plant. However, this scheme was abandoned last year. Since then, there has been speculation about Ford’s return to India, especially as the Indian market is rapidly maturing and foreign brands like Kia And MG Motors have achieved success in a short period.
