New Delhi: After announcing its exit from the Indian market in mid-2021, the US auto major Wade It appears to have rethought, and is now planning its global electric strategy out of India. The company is among 20 automakers, including the Japanese parent company of Maruti. suzukiGujarat subsidiary, which has been selected to benefit under the Production-Linked Incentive (PLI) scheme of Rs 25,938 crore for manufacturing and selling of electrics.
Ford plans to use one of its India factories – probably the Sanand plant in Gujarat – to make electric vehicles, with plans to export 100% of the production. The company, which had promised a token presence in India by selling marque brands like Mustang at the time of exit, will also assess whether electric vehicles can be pushed into the Indian market for export. “We thank the Government of India for approving Ford’s proposal under the PLI plan. As Ford leads customers through the global electric-vehicle revolution, we are looking forward to building India as an export base for EV manufacturing. Exploring the possibility of using the plant,” the company said.
A heavy industry ministry official told TOI that Ford had expressed confidence in India’s electrics focus and the resulting incentive plans. “They have an export-led strategy, and there is no bar in our plan, even if 100% of sales are outside the country. We want the manufacturing footprint to grow in India when it comes to green vehicles and that is why The company was selected for the scheme,” the official said. At the close of applications on January 9 this year, a total of 115 companies have applied for advanced automotive technology (AAT) products – vehicles and components – for government benefits under the scheme Winners will now be given two years to work on the strategy and products, and the incentives will begin in April 2024 and will be spread over a period of five years.
Those who made the cut are local manufacturers Ashok LeylandEicher Motors, Mahindra & Mahindra, and Tata MotorsApart from Indian subsidiaries of Ford, Hyundai, Kia and Peugeot Citroen Automobiles and Suzuki. Pinnacle Mobility Solutions, a joint venture between the local Pinnacle Group and VDL Group, the Netherlands (specializing in buses and coaches), has also been selected in the ‘Champion OEM’ category for large vehicles.
Ford plans to use one of its India factories – probably the Sanand plant in Gujarat – to make electric vehicles, with plans to export 100% of the production. The company, which had promised a token presence in India by selling marque brands like Mustang at the time of exit, will also assess whether electric vehicles can be pushed into the Indian market for export. “We thank the Government of India for approving Ford’s proposal under the PLI plan. As Ford leads customers through the global electric-vehicle revolution, we are looking forward to building India as an export base for EV manufacturing. Exploring the possibility of using the plant,” the company said.
A heavy industry ministry official told TOI that Ford had expressed confidence in India’s electrics focus and the resulting incentive plans. “They have an export-led strategy, and there is no bar in our plan, even if 100% of sales are outside the country. We want the manufacturing footprint to grow in India when it comes to green vehicles and that is why The company was selected for the scheme,” the official said. At the close of applications on January 9 this year, a total of 115 companies have applied for advanced automotive technology (AAT) products – vehicles and components – for government benefits under the scheme Winners will now be given two years to work on the strategy and products, and the incentives will begin in April 2024 and will be spread over a period of five years.
Those who made the cut are local manufacturers Ashok LeylandEicher Motors, Mahindra & Mahindra, and Tata MotorsApart from Indian subsidiaries of Ford, Hyundai, Kia and Peugeot Citroen Automobiles and Suzuki. Pinnacle Mobility Solutions, a joint venture between the local Pinnacle Group and VDL Group, the Netherlands (specializing in buses and coaches), has also been selected in the ‘Champion OEM’ category for large vehicles.
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