Chennai, Oct. 31 -- American auto major Ford is returning to Chennai with an investment of Rs 3,250 crore, focusing on manufacturing next generation engines at its facility at Marailamalai Nagar in adjoining Chengalpattu district.
A Memorandum of Understanding was signed in the presence of Chief Minister M K Stalin in Chennai today.
The company had stopped manufacturing cars in 2022 after shutting down operations a year earlier at its plant in Maraimalai Nagar. When the company made its exit, it had an accumulated loss of 2 billion Dollars, since its brands like EcoSport and Endeavour SUVs had less than 2 percent market share.
Now, it has made a comeback pledging an annual production capacity of 235,000 units with production expected to ...