Two years after winding up its India production, global automobile giant Ford Motor Company is in talks with the Tamil Nadu government to restart operations at Maraimalai Nagar near Chennai, where it will focus on exports. Chief Minister Stalin visited Ford headquarters in Michigan on Tuesday and held discussions with its top management, urging it to restart production. "Had a very engaging discussion with the team from Ford Motors.
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American auto major Ford Motor on Friday said it is preparing to utilise its Chennai manufacturing plant to roll out vehicles for exports and has intimated the same to the Tamil Nadu government. Minister for TRB Rajaa, who is in the United States accompanying the Chief Minister M K Stalin to woo investors, said the efforts of the Chief Minister to reposition 'Brand Tamil Nadu' in its Numero Uno place has yielded rich dividends.
Ford, which had announced to quit the Indian market last year, said it was exploring the possibility of using one of its plants in India to produce electric cars for exports.
'We participate in the design/development of components and systems for electric vehicles, internal combustion engines, and hybrid vehicles.'
Ford Motor Company expects its sourcing of components from India to double or even treble in the next few years, a top official of the company's Indian subsidiary said on Wednesday.\n\n\n\n
The chances of former workers getting jobs depends on the model under which Ford would restart its Chennai plant operations -- under Ford India or as a joint venture or under any other model.
Tata Motors has inked a pact to acquire Ford India's Sanand-based manufacturing plant for Rs 725.7 crore, as it aims to bolster its passenger vehicle production capacity. As part of the deal, Tata Motors will get the entire land and buildings, vehicle manufacturing plant along with machinery and equipment situated therein, the Mumbai-based auto major said in a statement. The deal also includes the transfer of all eligible employees, it added.
He will be succeeded by Joginder Singh, who now heads the Business Services Centre of Ford Motor Company.
Days after Ford Motor chairman and CEO Bill Ford promised fresh investments for India, the company said it will be pumping in $75 million (around Rs 330 crore) for expanding operations.
US auto major Ford Motor Co will shut its two manufacturing plants in India and will sell only imported vehicles in the country as part of a restructuring exercise, according to people aware of the development. The company, which invested about USD 2.5 billion at its Chennai (Tamil Nadu) and Sanand (Gujarat) plants, will stop selling vehicles such as the EcoSport, Figo and Aspire which are produced from these plants. Going ahead, it would only sell imported vehicles like Mustang in the country.
Tata Indica, the Tata Group's big passenger car bet, was not delivering expected returns a year into its launch. Desperate, the Tata Motors brass, led by Ratan Tata, acceded to a meeting request from Ford Motors for a possible sale of the passenger vehicles division to the American auto major. Some people had advised Tata to sell the business, and the Ford officials came to Bombay House to hold talks.
'We announced a $500 million investment plan for India. I have not received a single call from either the US or Bangkok (Ford's Asian centre of operations) asking me to freeze the investment programme or to scale it down,' says Michael Boneham, MD, Ford India.
Automotive major Ford India Pvt Ltd on Wednesday said it would launch a new premium car in India by the end of this calendar year and announced the appointment of Aravind Mathew, as the new chief for Indian operations.
Post the completion of expansion programme in mid-2012, the engine plant's production capacity will increase from 2.5 lakh units to 330,000 units per year.
US automobile giant Ford Motor Company on Wednesday said it was seriously considering expanding production of its fuel-efficient hybrid car.
India's role as an important player in the future of Ford Motor Company's international strategy was underscored on Wednesday when the company's President and CEO Alan Mulally unveiled an all-new small car targetting the Indian car market: the Ford Figo.
With Tata Motors subsidiary taking over Ford's passenger vehicle (PV) manufacturing unit at Sanand in Gujarat, uncertainty over the future of Ford's Maraimalai Nagar unit in Tamil Nadu continues, with workers protesting on Thursday demanding a better severance package. There are over 2,000 employees working at the unit. On Thursday, there was a meeting between agitating employees and the state labour department. The workers started protests at the Chennai unit after Tata Passenger Electric Mobility signed a tripartite memorandum of understanding with Ford India and the Government of Gujarat for acquisition of Ford's PV manufacturing plant at Sanand.
Ford is expected to start production in two years, said Arvind Mathew, president and managing director, Ford India. The details of the small car, however, are yet to be finalised.
Europe's top-end car maker Volvo is planning an onslaught on the Indian market on the back of Ford India Ltd. Ford India's parent, the US-based Ford Motor, owns Volvo's car business.
Early this year, Ford displayed SUV-Ecosport at the Auto Expo held in New Delhi.
Share of diesel vehicles has been on the rise in the overall vehicle sales in the country.
Highlighting the importance of the Indian market, US auto giant Ford Motor Co on Tuesday had the first public showing of its new mid-size premium car 'Fiesta' with company chairman and CEO Bill Ford promising further investments
With India leading the small SUV market and attracting majority of investments from Ford Motor Company, the country is set to become a hub for the US automobile major, a top official said.
Taking a cue from heavyweights such as BMW, Mercedes and Audi, Ford Motor Company-owned Volvo Car India may use the parents' India facility in Chennai to manufacture and assemble some of its products, reducing their prices substantially.
Mahindra group and Ford Motor Co will jointly develop new SUVs and a small electric vehicle as part of several initiatives to take forward their collaboration pact signed last year.
Ford surely needs something special to improve its fortunes in India -- the new battlefront for the world's top car makers.
The US auto giant Ford Motor on Tuesday said it would post profits at its Indian unit from this year, with a strong sales growth of its mid-size sedan 'Ikon' in the market.
The company is still short of over Rs 4500 crore (Rs 45 billion) to refinance the debt which is due before June 2 this year. The company had planned to raise the fund for refinancing through three routes. It planned to raise about Rs 4200 crore through rights issues which it managed after the issue devolved on underwriters in October as the stock prices were tumbling globally following the economic crisis.
Car maker Ford plans to unveil a new concept vehicle at the upcoming Delhi Auto Expo as the company looks to tap growth in the compact car segment India.
Giving a fresh twist to the Ford India employees' strike at the firm's Maraimalai Nagar factory, the company has set the deadline for Monday evening for workers to accept a 'non-negotiable' severance package it is offering. It also indicated the possibility of legal action against workers from June 14 (Tuesday) and warned of early closure of the unit, before completing remaining export volume production. For the past 14 days, some 2,000 employees at the unit had struck work, seeking a better package from the company.
Tata Passenger Electric Mobility (TPEM), a subsidiary of Tata Motors, on Friday announced that it has commenced production at its second factory in Sanand, Gujarat, which it had acquired from Ford India last year. This new facility will unlock an additional manufacturing capacity of 300,000 units per annum, which is scalable to 420,000 units. The new facility is spread over 460 acres and is adjacent to Tata Motors' existing passenger vehicle facility in Sanand.
Tata Motors on Monday said its subsidiary and Ford India have inked a pact with the Gujarat government to acquire FIPL's Sanand vehicle manufacturing plant. Tata Passenger Electric Mobility Ltd (TPEML) -- a subsidiary of Tata Motors -- and Ford India Pvt Ltd (FIPL) have today signed a memorandum of understanding (MOU) with the Gujarat government for the potential acquisition of FIPL's Sanand vehicle manufacturing facility, including land, buildings, vehicle manufacturing plant, machinery and equipment, Tata Motors said in a regulatory filing. The MoU also includes the transfer of all eligible employees of FIPL Sanand's vehicle manufacturing operations, subject to the signing of definitive agreements and receipt of relevant approvals, it added.
Ford Motor India would announce an across the board price hike next month, a top company official said on Wednesday.
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