Ford Motor Co. shared it is considering the possibility of manufacturing EVs in India, just months after a halt to all sales and manufacturing in the Asian country. In addition to exploring EV manufacturing in India, Ford is also 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, admitting it had accumulated losses over $2 billion over the last ten years.
In this process Ford and several other automakers are willing to abandoned less lucrative market-ventures to refocus those funds toward electrification, a tremendous aspect of the automaker’s future strategy.
Following the latest comments from Ford, manufacturing in India might be back in play as long as its EV-focused. electrek - link - electrek muck rack - link - Scooter Doll - link - more like this (India) - link - more like this - link
No comments:
Post a Comment