New Delhi: Ford India is at a lot of loss and is now preparing to wrap up its business in India. In fact, Ford's going to close down two of its factories. Ford India is going to close its factories in Sanand in Gujarat and Chennai in Tamil Nadu. Sanand's factory is estimated to be closed first, as it is currently operating at a capacity of less than 10 percent. The company will close the Chennai factory by 2022 to integrate business in India and supply the remaining global orders.

Reuters quoted sources as saying that the company will continue its engine plant in Sanand to continue to serve its products in India. The company will also continue to sell Ford Mustang and Ford Endeavour. The company will also sell these models as CKD (Completely Knocked Down) models in the country. According to reports, the company's top management has instructed its employees to reduce the production of Ford Figo and Ford Freestyle. General Motors also closed its business in India in 2017 before Ford.

The closing of Ford India's own business and closure of both factories will adversely affect about 4,000 employees. The Indian operation of the company is at a great loss. Over the years, the company has lost $1 to $1.5 billion (Rs. 73 billion) in India. The company's stake in India's car market is less than 2 percent.

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