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JSW may acquire Ford's shut factory in Chennai
Hindustan Times
|August 30, 2023
The plant may be used as a platform for the group's entry in the EV space
NEW DELHI: The Sajjan Jindalled JSW Group is in advanced talks to acquire the shuttered Chennai factory of Ford Motor Co. for its planned entry into electric-vehicle (EV) space, two people aware of the matter said.
"Talks started a couple of months earlier and are in an advanced stage now, and the company is speaking to both the state government and Ford," one of the persons said on condition of anonymity.
Spread over 350 acres, the Ford factory has an annual production capacity of around 200,000 vehicles and 340,000 engines. The plant has been shut since July 2022. The Tamil Nadu government is also keen that it finds a new owner who can restart production.
In September 2021, Ford decided to close its operations in India and wind down vehicle assembly, both in Sanand, Gujarat, and in Chennai, Tamil Nadu. While Tata Passenger Electric Mobility Ltd completed the acquisition of Sanand plant for 725.7 crore this January, the Chennai unit is yet to find a buyer.
This story is from the August 30, 2023 edition of Hindustan Times.
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