Ford Motor Co. News

Ford Motor Co. plans to cut 4,000 jobs across Europe by 2027 as the company struggles with weak electric vehicle (EV) sales, increasing competition, and insufficient government incentives.

Ford will cut 4,000 jobs, nearly 2.3 per cent of its total workforce of 174,000, primarily in Germany and Britain, to reduce costs as the industry faces challenges like EVs being too expensive for consumers to buy. The company said the layoffs would happen by the end of 2027, reported Reuters.

Ford is evaluating the production of electric vehicles in Tamil Nadu, India, aiming to re-establish its presence in the local market after ceasing operations three years prior.

At the end of July 2020, as the Covid-19 pandemic raged and unprecedented supply-chain challenges distorted markets, then-Ford Motor Co. Chief Executive Jim Hackett started the company’s earnings call not with financials or strategy but with a message on racial justice and the murder of George Floyd.

Speculations arise as Ford Motor hints at a possible return to the Indian market with the Endeavour SUV, seen in recent spy shots near Chennai. The sighting of the entry-level Trend variant of the Everest SUV fuels rumors of Ford’s reentry into India’s SUV market.

Global auto major Ford Motor is planning a comeback in the Indian market with a focus on hybrid and electric vehicles, utilizing its Chennai manufacturing facility.

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Ford terminates agreement to sell Chennai plant to JSW Group and files patent for next-generation Endeavour in India. Job listings posted, indicating potential revival of operations in India.

This plant is Ford’s only remaining factory in India, and the deal being called off has given rise to suspicions that the American auto giant may be considering starting afresh in the world’s third-largest auto market.