Steven Armstrong will evaluate Ford’s investments in India. Anurag Mehrotra, the MD and President of Ford India, will report to him.
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At the end of 2020, Ford ended its plans to tie up with Mahindra in the Indian market. The company cited the challenges posed by the outbreak of the Covid-19 pandemic as the reason for the move. Now, it has revealed that it will decide on its future in India later this year.
Dianne Craig from Ford’s International Markets Group has revealed that the company has to assess its capital allocation in India. Steven Armstrong – a senior executive, has been appointed as the transformation officer for India and South America. He will evaluate the company’s investments in India. Anurag Mehrotra, the MD and President of Ford India, will report to him.
Ford has been in India for 25 years, but it has not been able to make significant inroads into the market dominated by players such as Maruti and Hyundai. It has a market share of just 2%. General Motors, another American carmaker, already ended its operations in India.
Under the joint venture with Mahindra, Ford was jointly developing SUVs for India and other emerging markets. Now it will either have to bring in vehicles from its global portfolio or develop cars on its own for the country. But, such products will need a large amount of localisation to keep their prices competitive.
Ford expects to be able to take a decision on its investments in India in the second half of the year.
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