- Ford India is reconsidering its decision to sell the Chennai plant and is exploring options for utilizing the facility for exports or potentially making a comeback in the Indian market after calling off a deal with the JSW group.
- The company had discussions with various entities like Mahindra and Mahindra, Vinfast, Ola Electric, Hyundai Motor India, Tata Motors, and MG Motor regarding the Chennai plant’s future.
- Despite Ford’s exit, the industrial source suggests that Maraimalai Nagar is an appealing location for investors due to its proximity to ports and major cities like Chennai and Bengaluru.
- The shutdown of the Maraimalai Nagar factory cost Ford India an estimated Rs 1,296 crore in a severance package for around 2,592 employees, averaging approximately Rs 44.8 lakh per employee.
- The Chennai unit spans 350 acres, had an annual production capacity of about 200,000 vehicles and 340,000 engines, and holds strategic geographical significance due to its proximity to ports and major cities like Chennai and Bengaluru.