Ford introduced plans to cease manufacturing in India in September, because it didn’t see a path to profitability there. The carmaker expects to close down operations at its automobile and engine manufacturing facility in Tamil Nadu by 2022.
see photographsFord India to close down automobile and engine manufacturing at Tamil Nadu plant by 2022
After inconclusive talks with the Tata group, the state’s business minister on Thursday mentioned overseas automakers have proven curiosity in buying Ford Motor Company’s plant in India’s state of Tamil Nadu. Ford introduced plans to cease manufacturing in India in September, because it didn’t see a path to profitability there. The carmaker expects to close down operations at its automobile and engine manufacturing facility in Tamil Nadu by 2022.
Tamil Nadu Industries Minister Thangam Thennarasu informed Reuters: “Early-stage talks are underway.” “It is ultimately up to Ford as this will be a commercial arrangement. We are merely facilitating negotiations between the companies,” he mentioned.
Thennarasu mentioned the Tata group had additionally proven curiosity in shopping for the Ford plant, met the state chief minister and visited the plant for preliminary research, however the state authorities had not but heard from him a few deal. “It is now up to him to make an official announcement,” Thennarasu informed Reuters in an interview on Thursday.
Ford India will shut down operations at its Sanand plant by the fourth quarter of 2021
The firm mentioned in September that Ford India would shut down automobile and engine manufacturing at a second manufacturing facility within the state of Gujarat and a Tamil Nadu plant by the fourth quarter of 2021. According to knowledge intelligence firm Global Data, Ford has the capability to provide round 440,000 automobiles a yr at each vegetation in India, however is utilizing solely 25%.
Asked which companies is perhaps fascinated by shopping for the Tamil Nadu plant, Ford informed Reuters in an announcement: “We continue to explore potential options for our manufacturing facilities, but nothing more to share.” Is.”
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With inputs from NDTV
