Ford to re-enter Indian market with EVs?
The US automaker’s Indian subsidiary Ford India said it is exploring the possibility of using a plant in India as an EV manufacturing base for exports. The carmaker’s application under the Production-Linked Incentive (PLI) scheme for the auto sector received approval on Friday, along with other major OEMs. Following this, the carmaker said it is considering producing electric vehicles (EVs) in India for exports, without denying completely the possibility of catering to the local market also.
American carmaker Ford Motor Company, which halted its operations in India in September last year, received on Friday approval from the Government of India for its proposal under the Production-Linked Incentive (PLI) scheme for the automobile sector.
Following this, the carmaker said it is considering producing electric vehicles (EVs) in India for exports, without denying completely the possibility of catering to the local market also. The recent development comes six months after the automaker announced its exit from the country.
“As Ford leads customers through the global electric-vehicle revolution, we’re exploring the possibility of using a plant in India as an EV manufacturing base for exports. We don’t have anything additional to announce at this time and will have more to say about any potential project in the future,” the maker of Ecosport and Endeavour said.
About selling EVs in India, the carmaker said, “There is no specific discussions on this right now, but it is not out of the realm of future consideration. Ford also plans to serve customers in India with must-have iconic vehicles, including the Mustang coupe.”
Ford India’s previously-announced business restructuring is continuing and remains in line with the Ford+ plan for growth and value creation by strengthening automotive operations and capitalizing on unprecedented opportunities in electric and connected vehicles, the company said in a statement.
The US automaker’s Indian subsidiary has two plants in India – in Sanand, Gujarat, and in Chennai - equipped to produce Internal Combustion Engine (ICE) vehicles. Ford had announced its plans to curtail manufacturing operations in India, with the option to retain the engine plant in Sanand to service its products in the country for the next five years.