Ford to stop manufacturing cars in India
The Hindu
4,000 employees to be impacted.
U.S.-headquartered Ford on Thursday announced restructuring of the Indian operation under which the company will stop manufacturing vehicles at its two plants in the country, resulting in loss of jobs for about 4,000 employees. The company, however, will not be fully exiting the India market, and will focus on its ‘Ford Business Solutions’ as it looks to create a “sustainably profitable” business in the country. “Ford India will cease manufacturing vehicles for sale in India immediately…[the company] will wind down vehicle assembly in Sanand by the fourth quarter of 2021 and vehicle and engine manufacturing in Chennai by the second quarter of 2022,” the company said in a statement.More Related News
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