Ford Motor Company is investing ₹32.5 billion in its Maraimalai Nagar plant near Chennai, India, to revitalize engine production for exports, marking a notable comeback in the Indian automotive industry.
- Ford Motor Company plans to invest ₹32.5 billion ($370 million) to revitalize its Maraimalai Nagar facility in Tamil Nadu, producing over 200,000 engines annually for export markets.
- This investment represents Fords return to local production in India, four years after the company shut down operations in the country, impacting the automotive industry significantly.
- The Government of Tamil Nadu is expected to support this initiative, which includes a memorandum of understanding to facilitate Fords investment and operations in the region.
Why It Matters
This investment by Ford Motor Company underscores a renewed commitment to the Indian automotive industry, potentially boosting local employment and contributing to the regions economic growth in Tamil Nadu.