Ford to retool TN unit with $370 mn

Ford Motor Co. plans to invest about 32.5 billion rupees ($366 million) in India to make new engines, the Detroit-based automaker said Friday, signaling renewed confidence in the country and defying Donald Trump’s promotion of American manufacturing as it reopens a factory closed four years ago.

- Bloomberg [e-mail]

The Maraimalai Nagar site in south Indian state Tamil Nadu will be retooled to make high-tech engines for the export markets with an annual capacity of 235,000 units, Ford said. Details on engine type and where they’ll be exported to will be announced closer to the start of production, it said.

Bloomberg first reported the plans on Thursday.