According to media reports, Ford plans to invest $370 million in India to produce high-end engines for export markets. With the fresh injection of cash, the company plans to restart production at its Chennai plant, which has been sitting idle for 4 years. Ford’s Maraimalai Nagar unit near Chennai will be retooled to produce 200,000 engines annually. As per reports, engines manufactured in India will not be exported to the United States. Ford hasn’t confirmed this yet, but reports suggest that an official announcement could be made as early as this week. The move comes at a time when companies are under pressure from President Donald Trump to manufacture in the US. The decision will also be overshadowed by the ongoing trade tensions between India and the US. Source:Bloomberg
Source link
Ford to restart engine production at Chennai plant for exports
