Rumour: Ford might sell its Gujarat factory

According to a media report, Ford is planning to sell one of its factories in India. The company currently operates plants in Chennai, Tamil Nadu and Sanand, Gujarat.

It is believed that the carmaker is in talks with at least one global automotive company for the sale of its Sanand plant. The negotiations are reportedly being handled by Ford's Asia-Pacific headquarters in Shanghai. However, a Ford spokesperson has rejected these rumours.

Ford's Sanand plant was set up in 2015. The company is said to have invested around US$1 billion in the facility. It has an annual capacity of 2,40,000 cars and 2,70,000 engines.

The Figo and Aspire are built at the Sanand plant. The facility also caters to the export market. Cars built here are exported to more than 30 countries.

Source: Livemint