US automaker Ford Motor is making a notable return to India. The company will restart its manufacturing plant in Chennai and hire 2,500 to 3,000 new employees. The announcement came on Friday, marking a significant step in Ford’s strategy to boost exports from India.
Kay Hart, President of Ford International Markets Group, highlighted the move as a sign of Ford’s ongoing commitment to India. She emphasized the intent to utilize Chennai’s manufacturing expertise to serve new global markets. In a LinkedIn post, Hart shared that Ford has submitted a letter of intent (LOI) to the Tamil Nadu government, detailing plans to use the Chennai plant for export manufacturing.
The decision follows extensive discussions with the Tamil Nadu government. Hart acknowledged their support and mentioned that further details about the manufacturing plans and target export markets would be shared soon.
Ford Motor ceased operations in India in 2021 due to low sales and financial losses in the competitive automotive market. Tamil Nadu Chief Minister MK Stalin had earlier announced engaging discussions with Ford about renewing their partnership. He also highlighted his recent visits to the headquarters of tech giants like Google, Apple, and Microsoft, securing investment agreements for Tamil Nadu.
Hart noted that the revival would expand Ford’s Chennai workforce. The global Ford Business Solutions team in Chennai currently exceeds 12,000 employees, with plans to add 2,500 to 3,000 more in the coming years. Ford also operates an engine manufacturing facility in Sanand, Gujarat. India remains Ford’s second-largest employee base worldwide.
Also Read: J&K Elections: PM Modi To Address Rally In Doda On Saturday
India’s growing partnership with the European Free Trade Association (EFTA) offers promising opportunities for economic…
Apple is set to generate an estimated $11 billion in revenue from iPhone sales this…
PM Modi highlighted vital role of leadership in driving national progress, stressing need for a…
UP CM Yogi Adityanath reaffirmed the state's commitment to reaching a $1 trillion economy by…
The National Pension System (NPS) is poised for significant growth, with AUM expected to more…
India’s National Career Service (NCS) portal has made significant strides in connecting job seekers and…