 "12Ford planning to re-enter India")
Ford Motor Company said on Friday it plans to restart its factory in Chennai and use it for exports, marking the automaker"s intent to reenter the Indian market after announcing exit in September 2021.
Ford stopped production at the Maraimalai Nagar factory in August 2022. Kay Hart, president of Ford"s international markets group, said the company has submitted a letter of intent to the Tamil Nadu government. Two days ago Tamil Nadu Chief Minister M K Stalin visited Ford"s headquarters in Dearborn, Michigan, and urged its top management to restart production in his state.
"I am pleased to share that today (Friday) we are announcing that we have submitted a Letter of Intent (LOI) to the Government of Tamil Nadu in India, outlining Ford’s intention to utilize our Chennai plant for manufacturing for export," Hart said.