Ford Considering India as Hub for EV Manufacturing
Barely six months ago, Ford India had shut down India manufacturing but with new incentives is looking to reopen. (IANS photo)
India-West News Desk
DETROIT, MI – India announced on Feb.11 that it had selected 20 companies including Tata Motors, Suzuki Motor Gujarat, Hyundai Motor India, Mahindra & Mahindra to become a part of its ‘Production Linked Incentive’ (PLI) scheme for automobile and auto components.
The scheme proposes financial incentives to boost domestic manufacturing of Advanced Automotive Technology products and attract investments in the automotive manufacturing value chain.
Its prime objectives include overcoming cost disabilities, creating economies of scale and building a robust supply chain in areas of AAT products.
Notably, Ford India has also been selected. Barely six months ago, Ford India had shut down India manufacturing.
“We thank the government of India for approving Ford’s proposal under the Production-Linked Incentive (PLI) scheme for the automobile sector,” said Ford India in a statement. Media reports speculate that the company is
considering the possibility of manufacturing EVs in India. Ford is also said to be open to the idea of reopening its sales books in India for EVs only.
Ford India Private Ltd. was founded in 1995 as a subsidiary that launched several popular combustion models of the brand overseas. However, last September Ford HQ announced an end to all sales and manufacturing in India, citing global economic factors as well as a failure to keep pace with competitors in the Indian market. Despite 25 years of sales in India, Ford held just 2% of the passenger vehicle market.