The American company “Ford” will stop the production of cars in India and will close both factories in this country.
Ford has said it will close factories in the Gujarat and Tamil Nadu regions in the second quarter of 2022, but will continue to build car engines for export.
This is also the last major company to leave India in recent years.
In 2017, General Motors stopped producing cars for the Indian market. Last year, another company, Harley-Davidson, did the same.
These departures have been at odds with the efforts of Indian Prime Minister Narendra Modi to encourage foreign producers to go there.
Ford has suffered operating losses of more than two billion dollars in the last decade in India and demand for new cars has weakened, the company said.
This company has been producing cars in India for 25 years, but has had difficulty in competing.
According to reports, Ford has owned less than two percent of the passenger car market and the company is ranked ninth in India in terms of the largest car manufacturers.
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