Ford India is likely to pursue its initial plans of selling both its factories.
Following its exit from the Indian market, the government’s PLI scheme offered a glimmer of hope for Ford India. The company was evaluating the possibility of manufacturing electric vehicles and had submitted a proposal for the same to the government as well. However, according to a recent report, that plan has now been dropped.
The report states that Ford is likely to withdraw its application to manufacturing EVs under the PLI scheme. It is said that the decision has been communicated to the employees of its Chennai plant.
A Ford India spokesperson stated that the company had decided to no longer pursue EV manufacturing for exports from any of the Indian plants, following a careful review.
After announcing its exit, Ford was exploring possible alternatives for its manufacturing facilities. Now, the company is likely to pursue its initial plans of selling both its factories.
Source: ET Auto
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