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Investing.com -- Ford Motor Co. (NYSE:F) plans to invest 32.50 billion rupees ($370 million) in India to produce new engines, reviving a factory it closed four years ago.
The investment will transform the Maraimalai Nagar manufacturing facility in Tamil Nadu into a production center for high-end engines destined for export markets, according to Bloomberg, citing a person familiar with the matter. The retooled plant will have an annual capacity exceeding 200,000 units.
While these engines will not be shipped to the United States, the specific export destinations remain undisclosed. An official announcement about the investment is expected as early as this week.
Ford first indicated interest in resuming production operations in India a year ago. The company has been developing this investment plan for months amid growing trade tensions between India and the United States.
The decision comes during a period of strained relations between the two countries. U.S. President Donald Trump imposed a 50% tariff on Indian imports earlier this year during a trade dispute and has criticized India’s purchases of Russian oil.
Ford’s investment in India runs counter to Trump’s policy focus on increasing manufacturing within the United States, particularly in the automotive sector. The carmaker’s stock is down 0.9% ahead of market close.
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