Loss Of 2 Billion Usd, Ford Withdrew Car Production In India
Recently, Ford announced a strong restructuring plan, whereby they will close most factories in India, leading to 4,000 employees of the company at risk of unemployment: 00/2: 15 namjim Farley - Chairman and CEO of Ford share: "As part of the Ford Plan, we are taking difficulties but needed to recover sustainable profitable business activities in Long time and allocation of capital to develop, creating values in the appropriate fields. Although it has invested significantly in the Indian market, Ford's business losses up to 2 billion USD The past 10 years when the demand for new cars is not as expected ". Becond the situation, Ford will close the factory assembly in Sanand in the fourth quarter of 2021 and a car and motor factory In Chennai in the second quarter of 2022. The cars produced in India such as Figo, Aspire, Freestyle, Ecosport, and Endeavor will stop providing once the outstanding goods are sold out. However, Ford will maintain production activities at the Sanand engine factory, which produces engine for the Ranger to export
