Ford Motor Company: The US automobile giant Ford Motor Company had pulled out of India due to continuously falling sales. However, its cars like EcoSport and Endeavour were very popular in India. Now it is ready to enter India afresh. The company is preparing to restart its Chennai plant. Thousands of jobs will also be created through this. However, Ford will not enter the Indian market directly. It will run the Chennai plant through a third party. About 2 lakh vehicles and 3.40 lakh engines will be manufactured here every year.
Ford cars will be made here and will be exported
Ford Motor Company bid farewell to India in the year 2021. According to a report by Business Standard, the company is now going to re-enter the automobile sector of India. The American company has also signed a Letter of Intent (LoI) with the Tamil Nadu government. The company has promised to start manufacturing again. They will export the vehicles made here. The company believes that exporting it instead of selling it in India can make more profit.
Ford India used to export cars to 37 countries from its Chennai plant
This Ford India plant is located in Maraimalai area, 50 km from Chennai. Production here stopped in the year 2022. This plant is spread over about 350 acres. Earlier also the company used to export vehicles made here to 37 countries. Senior officials of the company recently met Tamil Nadu Chief Minister MK Stalin in the US. However, it has not yet been decided which vehicles the company is going to launch in the Indian market.
Such was Ford’s journey in India
- 1926: Ford entered India for the first time. For this, Ford Canada had formed a subsidiary.
- 1953: Ford India was liquidated due to changed rules on imports.
- 1995: Ford restarted its business in India in a joint venture with Mahindra & Mahindra. It was named Mahindra Ford India.
- 1996: Ford’s first car, the Escort sedan, was launched.
- 1998: Ford increases its stake in the joint venture to 72 percent and names it Ford India.
- 2003: Ford Endeavor became the company’s first SUV to be launched in India. It was built on the Ford Ranger pickup.
- 2010: The company launched Ford Figo in the market. This small car gave wings to the company’s sales.
- 2013: Ford launched the compact SUV EcoSport. This is also considered a game changer product of the company.
- 2019: Ford once again formed a joint venture with Mahindra & Mahindra. Technology and resources were shared to reduce costs.
- 2020: The joint venture between Ford and Mahindra broke down again. After this, the company faced major difficulties in increasing its sales.
- 2021: Ford announced to wind up its business from India. After this, the Sanand plant in Gujarat was sold to Tata Motors in 2022. The Chennai plant was also closed this year.
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