India: US car giant Ford is to stop making cars in India and shut down both of its plants in the country, according to a company statement.
By the second quarter of 2022, the statement said “it would close the plants in Gujarat and Tamil Nadu but it would continue to make car engines for export.”
The firm is the latest big car firm to leave India in recent years.
In 2017, General Motors (GM) stopped making cars for the Indian market.
And last year, Harley-Davidson stopped manufacturing and massively scaled back its sales operations in what is the world’s biggest motorcycle market.
“These exits have been a blow to Indian Prime Minister Narendra Modi’s efforts to lure or retain foreign manufacturers,” BBC reported.
Ford had run up operating losses of more than $2bn (£1.5bn) over the past decade in India and demand for new vehicles had weakened, the firm said.
