According to a Reuters report today, Ford Motor Co is looking for options to use one of its Indian plants as a hub for electric vehicles export. The global auto giant had applied for incentives under India’s $3.5 billion scheme to boost clean fuel vehicles.
The government announced on Friday that Ford Motor Co, along with other big Asian automakers like Suzuki Motor Corp and Hyundai Motor are among the 20 companies eligible for the scheme.
Just last year, Ford announced that it would stop selling cars in India after suffering losses of more than $2 billion over a period of 10 years.
Maruti Suzuki brand of Japan’s Suzuki Motor Corp is the dominant player for seven out of the top 10 sellers with Hyundai making the other three, according to a Reuters report last year.
The company had been present in the Indian market for about 25 years but still had less than 2% of the market share, which has a high percentage of economy cars.
Despite, the company’s announcement to cease sales, it has retained its two manufacturing plants in the country.
Ford announced on Friday that it is mulling to use one of its plants to produce electric cars for exports, in the Reuters report.