How did Ford Motors, an MNC, set its foot in India?
Answer:
- Ford Motors, an American company, is one of the world’s largest automobile manufacturers with production spread over twenty-six countries of the world.
- It came to India in 1995 and spent ? 1,700 crore to set up a large plant near Chennai.
- This was done in collaboration with Mahindra and Mahindra, a major Indian manufacturer of jeeps and trucks.
- By the year 2004, Ford Motors was selling 27,000 cars in the Indian markets, while 24,000 cars were exported from India to South Africa, Mexico and Brazil.
- The company wanted to develop Ford India as a component supplying base for its other plants across the globe.