BENGALURU (Reuters) -Ford Motor plans to restart a producing plant for exports within the southern Indian state of Tamil Nadu, the corporate mentioned on Friday, doubtlessly re-entering a promote it exited three years in the past.
Ford (NYSE:) mentioned it has submitted a letter of intent to the state’s authorities, two days after Tamil Nadu’s chief minister mentioned that the 2 had 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 automotive market, which is dominated by Asian rivals.
“The transfer will see the power re-purposed to deal with manufacturing for export to international markets,” Ford mentioned in a press release.
The vehicles that Ford plans to make on the facility and different particulars can be introduced later, the corporate mentioned.
Previous to its exit, it constructed vehicles and engines at its plant within the metropolis of Chennai in Tamil Nadu.
