M. K. Stalin, Chief Minister of Indian state Tamil Nadu, confirmed the news in a recent social media post. 

“Had a very engaging discussion with the team from @Ford Motors! Explored the feasibility of renewing Ford’s three-decade partnership with Tamil Nadu, to again make in Tamil Nadu for the world!” Stalin wrote in a post shared on X (former Twitter) while attaching photos from the meeting.

Ford previously produced cars for domestic and international markets at factories in Sanand, Gujarat, and Chennai, Tamil Nadu. However, following weak sales and $2 billion in losses over the past decade, the company decided to halt production in both plants. The move came after a proposed partnership with domestic automaker Mahindra & Mahindra fell through.

In 2021, Ford sold the Sanand factory to India’s Tata Motors and later closed the doors at the one in Chennai. The latter plant has the capacity to produce 200,000 cars and 340,000 engines.

The news about Ford’s intention to return to India doesn’t come as a surprise. It was reported earlier this year that the company is interested in making electric vehicles and hybrids in the country.

The post Ford is Interested in Resuming Car Production for Export in India appeared first on theprimarymarket.com.

Tata and Ford finalized the deal last week but had to wait for it to be approved by the state of Gujarat. It comes after Ford decided to withdraw from India and scrap plans to make the Sanand factory the main hub for electric vehicle production for global markets. The manufacturing process was stopped back in April.

“Rising customer preference for passenger and electric vehicles made by Tata Motors has led to a multi-fold growth … this potential transaction will support the expansion of capacity,” said Shailesh Chandra, managing director of Tata’s electronic vehicle department, after the deal was announced. 

Tata is already the biggest name in the Indian market when it comes to electric vehicles. Its rapid growth in this sector was fueled by the government’s attempts to kick start the production of electric cars via generous incentives.

According to reports, Tata Motors plans to make a sizeable investment in the factory and produce 300,000 units on a yearly basis. If everything goes as planned, the production will be increased by an additional 100,000 units. Also, the company pledged to keep the majority of the employees.

The post Tata Motors Buys Ford Factory in India as Part of Electric Cars Push appeared first on theprimarymarket.com.

M. K. Stalin, Chief Minister of Indian state Tamil Nadu, confirmed the news in a recent social media post. 

“Had a very engaging discussion with the team from @Ford Motors! Explored the feasibility of renewing Ford’s three-decade partnership with Tamil Nadu, to again make in Tamil Nadu for the world!” Stalin wrote in a post shared on X (former Twitter) while attaching photos from the meeting.

Ford previously produced cars for domestic and international markets at factories in Sanand, Gujarat, and Chennai, Tamil Nadu. However, following weak sales and $2 billion in losses over the past decade, the company decided to halt production in both plants. The move came after a proposed partnership with domestic automaker Mahindra & Mahindra fell through.

In 2021, Ford sold the Sanand factory to India’s Tata Motors and later closed the doors at the one in Chennai. The latter plant has the capacity to produce 200,000 cars and 340,000 engines.

The news about Ford’s intention to return to India doesn’t come as a surprise. It was reported earlier this year that the company is interested in making electric vehicles and hybrids in the country.

The post Ford is Interested in Resuming Car Production for Export in India appeared first on theprimarymarket.com.

Tata and Ford finalized the deal last week but had to wait for it to be approved by the state of Gujarat. It comes after Ford decided to withdraw from India and scrap plans to make the Sanand factory the main hub for electric vehicle production for global markets. The manufacturing process was stopped back in April.

“Rising customer preference for passenger and electric vehicles made by Tata Motors has led to a multi-fold growth … this potential transaction will support the expansion of capacity,” said Shailesh Chandra, managing director of Tata’s electronic vehicle department, after the deal was announced. 

Tata is already the biggest name in the Indian market when it comes to electric vehicles. Its rapid growth in this sector was fueled by the government’s attempts to kick start the production of electric cars via generous incentives.

According to reports, Tata Motors plans to make a sizeable investment in the factory and produce 300,000 units on a yearly basis. If everything goes as planned, the production will be increased by an additional 100,000 units. Also, the company pledged to keep the majority of the employees.

The post Tata Motors Buys Ford Factory in India as Part of Electric Cars Push appeared first on theprimarymarket.com.