NEW DELHI: Ford Motor Company on Friday said it is considering producing electric vehicles (EVs) for export in India and possibly for domestic sales, just months after US automakers decided to halt sales and production of cars in the country. Ford’s comments mark a shift in strategy after it said it was hitting $ 2 billion in September because it was not looking at profitability and was leaving the major automotive market. The decision was a setback for the Indian government’s “Make in India” campaign.
Ford has two car units in the country. In a statement on Friday, the company said it was “exploring the possibility of using the plant in India as an export base for EV production.”
Asked if the company could consider selling electric cars in India, a Ford India spokesperson said, “There is no specific discussion on this right now, but it is out of the field of future consideration.”
Less than 2% of the Indian passenger vehicle market, when Ford stopped production in the country, has struggled to make a profit for more than two decades. Analysts have viewed the restructuring positively.
The move will allow Ford to re-enter India if it decides at a later stage, said Gaurav Wangal, assistant director of Light Production Forecast at IHS Markit.
There are cost savings in India, and the company has historically exported vehicles to North America and Europe – both of which are now large and growing EV markets, Wangle said.
“Ford needs to prove that India is cost-competitive to manufacture EVs, which requires large investments to localise the supply chain,” he said, adding that it had to figure out how to source lithium-ion. Batteries.
Ford’s comments to explore India as an EV manufacturing centre came on Friday after the company’s proposal to seek incentives under the government’s $ 3.5 billion plan for clean-fuel vehicles.
The cornerstone of the Modi government’s program is to cut oil imports and reduce pollution, with profits up to 18% of new investment by companies making electric and hydrogen fuel powered vehicles. Ford is among the other 20 companies eligible for benefits under the scheme.
Q) Is Ford going for all-electric vehicles?
Ans. With huge multi-billion dollar investments, Ford is putting everything on electric vehicles. Ford Motor Co.
Q). Where are Ford vehicles made?
Ans. All Ford vehicles sold in North America are manufactured in the United States with the help of some plants in Mexico and Canada
Q) Which company produces electric vehicles in India?
Ans. Tata Motors, JBM Auto, Electra GreenTech, Mahindra Electric Mobility, Ola Electric Mobility, Ashok Leyland Electric, Hyundai, Hero Electric, Menza Motors, Lohia Auto, Kia Motors, etc. are the top electric vehicle manufacturers in India.
Q) Why did Ford leave India?
Ans. Back in the day, the reason for the move back from the market was that severe import restrictions led to an increase in production costs. But given its enthusiasm and conviction, it re-launched India with the incarnation of Mahindra Ford India Limited.
Q) Is Ford Mustang Mach e Available in India?
Ans. The Ford Mustang is a Mac E5-seat SUV. The Ford Mustang Mac E is expected to be launched in India by March 2022.
Q) How many EVs does Ford sell?
Ans. Morgan Stanley predicts Ford’s sales of battery-electric vehicles will reach 150,000 vehicles, or 3.5% of its volume, in fiscal year 2022; 473,000 or 11.5% of its volume in fiscal year 2025, and 1.225 million vehicles in fiscal year 2030
Q) Is Ford investing in electric cars?
Ans. Ford’s $ 7 billion investment is the largest production investment by any automotive manufacturer in the U.S. at one time.
Q) Which country owns Ford?
Ans. American, Ford Motor Company (commonly known as Ford) is headquartered in American multinational automobile manufacturers in Dearborn, Michigan, United States.
Q) What is the cost of Ford electric cars?
Ans. The 2022 Ford Mustang Mach-E has a starting price of $ 42,895. The price for high-performance Mach-E GT performance rises to $ 64,995