CURRENT AFFAIRS

Detailed explanation-1: -Ford had to take the decision to close its plants in India due to unviable business conditions.

Detailed explanation-2: -On 20 July 2022, the very last Ford rolled off the production line at their plant at Sholinganallur, outside Chennai. With that, the story of Ford’s production of cars in India came to a halt.

Detailed explanation-3: -Last September, Ford announced it would cease vehicle manufacturing operations at its Chennai plant by June on account of significant accumulated losses and inability to find a sustainable path forward.

Detailed explanation-4: -Ford is once again cutting production of highly profitable trucks and SUVs due to an ongoing global shortage of semiconductor chips. Vehicles impacted include Ford Super Duty pickups, Ford Expedition and Lincoln Navigator SUVS, medium-duty trucks and chassis cabs.

Detailed explanation-5: -Ford also had operated integrated manufacturing facilities in Sanand, Gujarat. On September 9, 2021, Ford has exited the Indian market as it failed to keep up with the competition, and other global economic factors had led to reduction in demand.