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<blockquote data-quote="Weather Man" data-source="post: 16665635" data-attributes="member: 137766"><p><a href="https://seekingalpha.com/news/3738209-ford-motor-plans-to-stop-manufacturing-in-india-after-years-of-losses" target="_blank"></a></p><p><a href="https://seekingalpha.com/news/3738209-ford-motor-plans-to-stop-manufacturing-in-india-after-years-of-losses" target="_blank">Ford Motor plans to stop manufacturing in India after years of losses</a></p><ul> <li data-xf-list-type="ul">Ford Motor Company (NYSE:<a href="https://seekingalpha.com/symbol/F" target="_blank">F</a>) says it plans to <a href="https://seekingalpha.com/pr/18465513-ford-restructures-india-operations-plans-to-grow-ford-business-solutions-serve-customers" target="_blank">restructure</a> its operations In India to bring to market some of the automaker's iconic global vehicles and electrified SUVs, while ceasing local vehicle manufacturing in the region.</li> <li data-xf-list-type="ul">As part of the plan, Ford India will wind down vehicle assembly in Sanand by Q4 of 2021 and vehicle and engine manufacturing in Chennai by Q2 of 2022. The automaker will continue to provide customers in India with parts and service support.</li> <li data-xf-list-type="ul">The decision follows accumulated operating losses for Ford of more than $2B over the past 10 years and a $800M non-operating write-down of assets in 2019. The restructuring is expected to create a sustainably profitable business in India as the company focuses on growing its Ford Business Solutions capabilities and team in the country, as well as engineering and engine manufacturing for export. Ford will begin importing and selling vehicles, including Mustang coupe. Customers in India also will benefit longer term from the company’s plan to invest more than $30B globally to deliver all-new hybrid and fully electric vehicles, such as Mustang Mach-E. </li> </ul></blockquote><p></p>
[QUOTE="Weather Man, post: 16665635, member: 137766"] [URL='https://seekingalpha.com/news/3738209-ford-motor-plans-to-stop-manufacturing-in-india-after-years-of-losses'] Ford Motor plans to stop manufacturing in India after years of losses[/URL] [LIST] [*]Ford Motor Company (NYSE:[URL='https://seekingalpha.com/symbol/F']F[/URL]) says it plans to [URL='https://seekingalpha.com/pr/18465513-ford-restructures-india-operations-plans-to-grow-ford-business-solutions-serve-customers']restructure[/URL] its operations In India to bring to market some of the automaker's iconic global vehicles and electrified SUVs, while ceasing local vehicle manufacturing in the region. [*]As part of the plan, Ford India will wind down vehicle assembly in Sanand by Q4 of 2021 and vehicle and engine manufacturing in Chennai by Q2 of 2022. The automaker will continue to provide customers in India with parts and service support. [*]The decision follows accumulated operating losses for Ford of more than $2B over the past 10 years and a $800M non-operating write-down of assets in 2019. The restructuring is expected to create a sustainably profitable business in India as the company focuses on growing its Ford Business Solutions capabilities and team in the country, as well as engineering and engine manufacturing for export. Ford will begin importing and selling vehicles, including Mustang coupe. Customers in India also will benefit longer term from the company’s plan to invest more than $30B globally to deliver all-new hybrid and fully electric vehicles, such as Mustang Mach-E. [/LIST] [/QUOTE]
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