Credit rating agency India Ratings and Research, downgraded Ford India Private Ltd's long term issuer rating to 'IND A+' from 'IND AA-'.
The plant employs around 1,200 people
The Secretary, Ministry of Heavy Industries, said the country has seen investments of $34.5 billion in the past five years, to substantiate his point
Even as their morale is down with job loss staring at their faces, workers at the Chennai plant of Ford India Private Ltd have restarted production of EcoSport for exports, said an official.
Analysts and executives said foreigners badly misjudged India's potential and underestimated the complexities of operating in a vast country that rewards domestic procurement.
Factory workers at Ford Motor Co's southern Indian plant near Chennai city have sought the state government's help to safeguard jobs that will be lost once carmaker stops production, workers said
The higher the capital intensity the fewer the number of companies an industry is able to support.
Workers at both units set to get into a protracted feud with the management over closure terms and job security
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Company in talks with automakers to sell Chennai plant, says govt official
Last year, Ford was in talks with Ola and M&M for contract manufacturing or for sale of both plants. It isn't clear whether the current talks are with the same companies or not
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Ford had been rethinking its India operations even before it had initiated discussion with Mahindra & Mahindra in 2019
Ford India, the subsidiary of US auto-maker Ford, on Thursday said it would observe 'no production days' on May 28 and 29
American auto major said it is donating 50 lakh surgical masks, 1 lakh N95 masks and 50,000 gowns to help fight the surge of COVID-19 cases in India
Ford India on Wednesday launched a new variant of its popular compact SUV EcoSport, offering customers the choice to pick from two body styles - with or without its signature rear-mounted spare wheel
Shortage has affected entire auto sector, may continue for at least first half of 2021, says company; During April-December period of current fiscal, Ford's production was down 56% YoY
Ford India on Monday introduced the 2021 line-up of its compact SUV EcoSport with features such as sunroof in the Titanium Trim, enhanced connectivity features and an enhanced warranty at a starting price of Rs 7.99 lakh. The SUV comes in five trims -- Ambiente, Titanium, Titanium +, Trend and Sports, according to a release. The American car maker, which recently called off its proposed partnership with domestic auto major Mahindra & Mahindra, had rolled out the sub-4 meter SUV EcoSport first time in the Indian market in June 2013. Ford's product portfolio in India currently comprises six cars -- Figo, Freestyle, Aspire, EcoSport, Endeavour and Mustang. In the tradition of bringing what consumers want and value, we are happy to bolster the EcoSport line-up and make every variant compelling in terms of features and value, said Vinay Raina, executive director Marketing, Sales and Service at Ford India. With the new line-up, we have not just addressed the customer feedback on making
If the product is launched in the Indian market it will be positioned against other pick-up trucks in India including the Tata Yodha, Mahindra Bolero and Isuzu D-max
Maruti Suzuki India also announced a planned hike in prices on Wednesday