New Delhi: Ford Motor Company will shut its car factories in India but will continue engine manufacturing for export markets. Ford is the second US auto major after General Motors to shut plants in the value-conscious market.
"Ford restructures India operations, to cease vehicle manufacturing in Chennai and Sanand, progressively wind-down manufacturing of vehicles for export at Sanand plant by Q4 2021 and Chennai engine/vehicle assembly plants by Q2 2022," the company tweeted on Thursday.
"To continue engine manufacturing for export. To grow Ford Business Solutions (FBS), focusing on engineering, technology and business operations centres of excellence. Remain home to Ford's second-largest salaried workforce globally," it added. Reports said the decision to shut down both factories will impact over 4,000 employees. The sale of models including the Figo, EcoSport and Endeavour will cease once existing inventory at dealers is sold.
Ford was one of the first global car companies to enter India when the economy opened up in early 1990s. In 2017, General Motors announced it will stop selling vehicles in India as there is no turnaround in its fortunes even after struggling for over two decades. (ANI)
