Ford may make a U-turn on its decision to abandon India
An article on Reuters has revealed that Ford Motor Co looks likely to reconsider its decision to stop manufacturing cars in India. Instead, the American car maker is looking to use its plants in India to manufacture electric vehicles (EVs).
If the plan goes ahead, the EVs will be for export to North America and Europe, where markets for electric vehicles show healthy growth. However, Ford has also hinted that the EVs may also be sold domestically.
So far unable to capture the Indian car market
The revelation comes just months after Ford announced its decision to stop selling and manufacturing cars in India where it has only managed to corner 2% of the car market. Back in September 2021, Ford said it was making a loss of around $2 bn in India and could not see a path to profitability there.
Ford has two car plants in India, which it is now considering using as an export base for EV manufacturing. The company has previously set out plans to invest $30 bn in EVs and batteries through to 2030 so this will be an interesting move if it happens.