Ford will Close Its Factories in India

Ford will close its factories in India. Up to 4,000 employees are expected to be affected by the shutdown.

Ford Motor announced that it has decided to close its factories in India as they cannot find a profitable and sustainable solution to produce in the country. Close to 4,000 employees are expected to be affected by the closure of the factory, which was established to manufacture vehicles for sale in India. The assembly plant in Gujarat will be closed in the fourth quarter of this year, and the engine manufacturing plant in Chennai will be closed in the second quarter of next year, the company announced on Thursday. Ford India General Manager Anurag Mehrotra stated that the ongoing losses for years and the failure to meet the growth targets in the Indian market caused this closure decision. used the phrases. Foreign vehicle manufacturers had not been very successful in gaining ground in the Indian car market dominated by Maruti Suzuki. Toyota announced last year that it was not considering increasing its operations in India any further due to high taxes. Harley Davidson and General Motors also exited the Indian market. The government imposes a 28 percent tax on gasoline vehicles. While Ford has lost almost $2 billion in the past 10 years in India, the value of the operation in the country was set at $800 million in 2019.