Ford Company to close units in India
Many businesses were affected by the Coronavirus, and many businesses suffered losses, resulting in the unemployment of many employees. Ford’s Indian operations will be shut down as a result of this sequence. Ford has decided to close both of its manufacturing sites in India due to continuing losses. Ford lost almost $ 2 billion during the Corona period, and as a result, the firm has decided to shut down both of its manufacturing sites.
Ford’s closure will result in the layoff of 4000 people.
The Ford Motor Company has decided to shut down its production facilities in India. At both its Chennai and Gujarat operations, the corporation has invested over $ 2.5 billion. The company’s top models are Figo, Aspire, and EcoSport, which will no longer be manufactured in India.
Let us remind you that, after GM, Ford is the second-largest corporation to announce that it will close a facility in India. The Ford corporation lost roughly $ 2 billion over the Corona period, and as a result, the company has decided to close it.