Ford announced that it has submitted a letter of intent, or LOI, to the Government of Tamil Nadu, confirming its intention to utilize the Chennai plant for manufacturing for export. The announcement follows a meeting between Ford leadership and the Honorable Chief Minister of the Government of Tamil Nadu as part of his visit to the United States. This strategic move will see the facility repurposed to focus on manufacturing for export to global markets, as part of the company’s ambitious Ford+ growth plan.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on F: