HomeNewsFord Motor Shuts Down India Business After $2 Billion Loss
Ford Motor Shuts Down India Business After $2 Billion Loss
Ford will wind down the manufacturing of vehicle for exports in Sanand, Gujarat by the fourth quarter of 2021 and vehicle and engine manufacturing in Chennai by the second quarter of 2022, a statement read. This is the second major exit of local manufacturing operations in India by a global automotive brand.
Ford India said it took these restructuring actions after investigating several options, including partnerships, platform sharing, contract manufacturing with other OEMs, and the possibility of selling its manufacturing plants, which is still under consideration.
Ford has invested over $2 billion in India at Chennai and Sanand manufacturing plants.