A man holds a petrol nozzle in a petrol pump in Kolkata, India, 03 July, 2021.
Indranil Aditya | NurPhoto | Getty Images
DETROIT Ford Motor is ending vehicle production in India, shutting down its two large plants there and terminating thousands of employees, as CEO Jim Farley restructures the automaker’s operations as part of a turnaround plan.
The company said Thursday the actions will cost about $2 billion, including pretax special charges of about $600 million in 2021 and $1.2 billion in 2022. About $300 million of the $2 billion will be non-cash charges, including accelerated depreciation and amortization, according to the company.
Ford has two vehicle and engine plants Chennai and Sanand in the country that employ thou…
Read the full article at: https://www.cnbc.com/2021/09/09/ford-to-spend-2-billion-to-close-plants-in-india.html