BENGALURU (Reuters) -Ford Motor plans to restart a producing plant for exports within the southern Indian state of Tamil Nadu, the corporate stated on Friday, probably re-entering a promote it exited three years in the past.
Ford (NYSE:) stated it has submitted a letter of intent to the state’s authorities, two days after Tamil Nadu’s chief minister stated that the 2 have been in talks to restart manufacturing within the state for exports.
Ford stopped producing vehicles in India for home sale in 2021 after struggling to spice up volumes and pulled the plug on exports in 2022, successfully exiting the world’s third-largest automobile market, which is dominated by Asian rivals.
“The move will see the facility re-purposed to focus on manufacturing for export to global markets,” Ford stated in an announcement.
The vehicles that Ford plans to make on the facility and different particulars might be introduced later, the corporate stated.
Previous to its exit, it constructed vehicles and engines at its plant within the metropolis of Chennai in Tamil Nadu.
