Introduction:
According to a report, the major auto manufacturer in the United States, FORD is planning to re-enter the Indian auto market by focusing on electric vehicles. The Hindu Business Line reported that the global automaker Ford, which departed India in 2021, is working on a return to the Indian Market with a focus on hybrid and electric vehicles, by using its manufacturing facility in Chennai for the production of these cars. Times of India reported that the car manufacturer Ford has applied for design patents for a sleek, modern midsize SUV. This design is considered to compete with already existing popular models like Hyundai Creta, Kia Seltos, and Maruti Suzuki Grand Vitara.
Source: https://images.wsj.net/ Ford has updated its outlook for 2024. PHOTO: ANGUS MORDANT/BLOOMBERG NEWS
Ford Electric Vehicles Planning:
Recently, the company has patented the design for its upcoming Endeavour SUV, which will carry the Everest Moniker.
The company is in the process of recruiting personnel for its Chennai factory.
Moreover, Ford has secured the trademark for “Mustang Mach-E” in India. It is expected that Ford may come back by introducing its electric crossover to rival other premium electric vehicles like the Mercedes EQE, BMW iX, and the Audi Q8 e-tron.
Source: https://etimg.etb2bimg.com/photo/108033946.cms
The majority of consumers of mid-size passenger cars are hesitant to go for electric vehicles because of their high price and very few marked charging infrastructure. In this view, the automaker has also cut production and prices of its battery-powered Mustang Mach-E, while it pivots to boost the output of gas-electric hybrid models.
As Bloomberg reported, The Company has recently stopped deliveries of its F-150 Lightning plug-in pickup for an undisclosed quality issue. In an official statement, the automaker said it stopped shipping the Lightning on February 9 to ensure the quality. The Company said, “We expect to ramp up shipments in the coming weeks as we complete thorough launch quality checks to ensure these new F-150s meet our high standards”.
According to the report of last month, it is predicted that the Indian market of Electric Vehicles (EVs) is expected to grow at a compound Annual Growth Rate of 35 % with expected annual volumes to touch 27.2 million units by 2032.
The central government’s commitment to promoting an indigenous Electric Vehicle ecosystem is evident in the approval of a 3.5 billion US dollar production-linked incentive (PLI) scheme for the manufacturing of automobiles and auto components, promoting the development of the electric vehicle supply chain in the country.
Conclusions:
The Indian market of electric vehicles is growing and many major car manufacturers are investing to develop their establishment and the infrastructure in India to capture the broad market of India. That’s why the Major car manufacturer Ford is rethinking and planning to rejuvenate its existing plant and machinery already at Chennai.
Hoping the best for the Ford and the Indian as well as the global market for the alternative fuel vehicle and the electric vehicles.
