Ford to invest $370M in India to build new engines, Bloomberg reports

Ford (F) intends to invest roughly $370M in Indian to build new engines as the U.S. car maker restarts a factory it shut down four years ago, Bloomberg’s Alisha Sachdev reports, citing a person familiar with the matter. The Maraimalai Nagar manufacturing plant in India’s Tamil Nadu sate will be revamped to make high-end engines for export markets with an annual capacity of over 200,000 units, the author says, noting the engines will not be exported to the U.S. and it’s not clear where they will be sent.