Ford Motor Co mentioned it had dropped plans to make electrical automobiles (EVs) in India for exports, whereas it explores choices for its two factories within the nation that stopped manufacturing final yr.
Ford Motor Co mentioned on Thursday it had dropped plans to make electrical automobiles (EVs) in India for exports, whereas it explores choices for its two factories within the nation that stopped manufacturing final yr.
The US automotive maker mentioned in February it might manufacture EVs in India and in addition obtained approval for the Indian authorities’s $3.5-billion production-linked incentive scheme for making clean-fuel automobiles.
“After careful review, we have decided to no longer pursue EV manufacturing for exports from any of the Indian plants,” a spokesperson for Ford India mentioned in an e-mail.
The firm didn’t supply particulars on its U-turn, whereas including that its beforehand introduced enterprise restructuring continues as deliberate, together with exploring options for its manufacturing amenities in India.
“We continue to work closely with unions and other stakeholders to deliver an equitable and balanced plan to mitigate the impacts of restructuring,” the spokesperson added.
Talks for the sale of the Sanand plant in Gujarat with Tata Motors have been progressing properly, whereas Ford was pursuing a number of suitors for its Chennai manufacturing facility, India’s Economic Times newspaper mentioned in a report, citing individuals accustomed to the matter.
Earlier this yr, Ford had mentioned it was contemplating producing EVs in India for export, and probably on the market within the home market.
The firm had lower than 2% of the Indian passenger car market when it stopped manufacturing within the nation final yr, having struggled for greater than 20 years to generate income.
Several automotive makers are planning to make EVs in India, with the federal government providing billions of {dollars} in incentives to construct EVs and their elements regionally because it seeks to chop oil imports and air pollution.
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With inputs from NDTV
