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Billion dollar burden expected: Ford stops production in India

The US carmaker Ford wants to stop its production of cars in India and expects billions in costs from the conversion. The production of cars for the Indian market should be stopped immediately, the production of export vehicles and other plants for engine and body construction should follow by the middle of next year, the group announced on Thursday in New Delhi. The division with development and software services at the Chennai location, on the other hand, is to be expanded. The conversion will have a total of around two billion US dollars (1.7 billion euros) in charges before taxes, it said. In the future, Ford only wants to sell imported cars in the densely populated country.

Ford has accumulated operating losses of more than two billion dollars in India over the past ten years and the demand for new vehicles is weaker than expected, said CEO Jim Farley. He said that the company wanted to focus on the “right areas” in the country. (dpa / swi)

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Lenny Li

I started to play with tech since middle school. Smart phones, laptops and gadgets are all about my life. Besides, I am also a big fan of Star War. May the force be with you!

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