It's been seven months since Ford decided to close its factories in India, taking $ 2 billion in compensation. The decision came as no surprise: contrary to Ford's expectations in 2012 that the country's emerging middle class would push it into one of the company's three largest markets by 2020, its market share had slumped to less than 1.5% by the time it decided to pull the pin.

Also Read: IPL 2022, LSG vs DC: Quinton De Kock shines as LSG Beat DC by 6 Wickets

Ford, meanwhile, has invested heavily in two factories off the south and west coasts of India, producing cars and SUVs for the local market and export. But in ten years, it cost more than $ 2 billion because it failed to penetrate the market at a price dominated by cheap cars and two-wheelers.

Now there may be a way to recover some of the losses. The provincial government of Tamil Nadu is negotiating with Ford to examine whether the factory could be transformed into a factory for the production and export of electric cars, the known news channel reported last week. Ford also told the daily that it was exploring the possibility of using a plant in India as an export base."

Also Read: Ranbir Kapoor confirmed the date of the wedding

That would be a good move. Although it will be difficult for US car manufacturers' giants to enter India more significantly - General Motors stopped selling in India five years ago - electric cars could offer another chance to enter the market with 1.4 billion people.

This option is particularly likely given that Maruti Suzuki, a local Suzuki unit that sells every other car on Indian roads, does not offer EV.

Also Read: Stocks in News: Airtel, Colgate, Tata Power, Lupine, Coforge and Bayer Crop

The market is small, accounting for only 1% of total sales, but the growth is surprising. Sales of electric cars and SUVs jumped 324% last month, according to data compiled by the Federation of Automobile Dealers. This is comparable to a 7.8% drop in total passenger car sales.

India, home to some of the polluted cities in the world, has promised to be carbon neutral by 2070 and is taking steps to become greener. Ford has selected one of the companies to receive government subsidies under a plan to manufacture electric vehicles, which encourages the carmaker to return with a new avatar.

Also Read: Murray says hecklers are an unfortunate part of sports

This may also have lessons for other car manufacturers. GM's plant in India has been dormant for years, and a trade union representing former employees has blocked an agreement to sell Great Wall Motors' plant in China.

Ford brings some successful products to India, such as the Figo hatchback, the EcoSport compact SUV and the Endeavor premium SUV. But competing with Maruti and Hyundai in South Korea is difficult in a country where cheap discovered cars were traditionally the choice of the emerging middle class, which bought its first car.

Also Read: What is retired out? Cricket rule R Ashwin used in IPL 2022 during RR vs LSG clash