Categories: Business

Ford is finishing its plans to revive Chennai plant


A view of Ford India Chennai plant in Maraimalai Nagar at Chengalpattu district (file photo)
| Photo Credit:
VELANKANNI RAJ

Ford will revive the plant in Tamil Nadu; discussions are going on, and there could be some delay due to the new administration working on various tariff-related issues, sources said dismissing reports that the American car manufacturer has shelved the project to revive the manufacturing plant at Maraimalai Nagar near Chennai.

“Ford is finalising their plans and we are discussing with them. No cause of concern,” the source said.

  • Also read: REVVING UP. Ford likely to drive back to India with EV, hybrid focus

In September 2024, the US carmaker announced its intention to resume manufacturing at its Chennai plant, two years after halting production in India after a three-decade-long presence in the country. It submitted a Letter of Intent (LoI) to the Tamil Nadu government, confirming its plan to utilise the facility for export-oriented manufacturing. The announcement was after a meeting between the Ford leadership and the Tamil Nadu Chief Minister during his recent visit last year.

However, media reports recently said the car manufacturer had put on hold its plans to restart the Chennai plant.

Source link

nasdaqpicks.com

Recent Posts

Sunday Number 81: Numbers Puzzle

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories…

1 hour ago

Week Ahead: India Q3GDP data, F&O expiry, FII flow, global cues among key triggers for Indian stock market

The Indian stock market traded within a tight range to extend its corrective phase while…

1 hour ago

Elon Musk demands federal workers explain their jobs or be sacked

Unlock the White House Watch newsletter for freeYour guide to what the 2024 US election…

3 hours ago

US says revenue from minerals deal will fuel Ukraine’s postwar growth

Unlock the White House Watch newsletter for freeYour guide to what the 2024 US election…

6 hours ago