Ford Announces Exit From India, Which Are The Other Car Makers Who Bid Farewell
Ford Motor Company will end local manufacturing in India. It will record roughly $2 billion in restructuring charges. Manufacturing of vehicles for sale in India will stop immediately, the company said in a statement. Around 4000 employees will be affected with this decision. Ford will shut down an assembly plant in Gujarat by the fourth quarter. It will shut down vehicle and engine manufacturing plants in Chennai by the second quarter of next year. “Ford India will cease manufacturing vehicles for sale in India immediately; manufacturing of vehicles for export will wind down at Sanand vehicle assembly plant by Q4 2021, and Chennai engine and vehicle assembly plants by Q2 2022. Ford India will restructure its operations with plans to significantly expand its Chennai-based Ford Business Solutions team and bring to market some of Ford’s iconic global vehicles and electrified SUVs while ceasing vehicle manufacturing in India,” the company said in a statement. Watch the video to know five big automobile brands that quit India in the last decade.
