Why Ford's India dream turned nightmare

Posted in REVIEWS on September 18, 2021

NEW DELHI — When Ford Motor Co built its first factory in India in the mid-1990s, U.S. carmakers believed they were buying into a boom — the next China. The economy had been liberalized in 1991, the government was welcoming investors, and the middle class was expected to fuel a consumption frenzy. Rising disposable income would help foreign carmakers to a market share of as much as 10%, forecasters said. It never happened. Last week, Read More »

Ford workers in India seek government help to safeguard jobs

Posted in REVIEWS on September 14, 2021

CHENNAI, India — Factory workers at Ford's southern Indian plant near Chennai city have sought the state government's help to safeguard jobs that will be lost once the carmaker stops production, workers and union leaders said. Last week, Ford said it would stop making cars in India, taking a hit of about $2 billion to end years of unprofitable operations in a market that once promised exponential growth but has disappointed. The U.S. automaker will Read More »

Ford to end manufacturing in India, take $2 billion hit

Posted in REVIEWS on September 9, 2021
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NEW DELHI — Ford Motor Co will stop manufacturing in India and take a hit of about $2 billion as it does not see a path to profitability in the country, becoming the latest automaker to leave a major growth market dominated by Asian rivals. The decision by Ford comes after it struggled for years to win over Indian consumers and turn a profit. The carmaker entered India 25 years ago but has less than Read More »

Tesla lobbies India for sharply lower import taxes on electric vehicles, sources say

Posted in REVIEWS on July 23, 2021

NEW DELHI — Tesla Inc has written to Indian ministries seeking a big reduction in import duties on electric vehicles (EVs), a move it says will boost demand and generate revenue for the government, two sources with knowledge of the matter said. Its pitch, however, is likely to face resistance from Prime Minister Narendra Modi's administration which has championed high import taxes for many industries in a bid to boost local manufacturing. Other luxury automakers Read More »

Renault, Nissan and Hyundai face shutdowns in India over workers' COVID fears

Posted in REVIEWS on May 25, 2021
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CHENNAI, India — Automakers Renault, its alliance partner Nissan and Hyundai face temporary factory closures in India due to growing unrest among workers concerned about rising COVID-19 infections. Workers at Renault-Nissan's car plant in the southern state of Tamil Nadu will go on strike on Wednesday because their COVID-related safety demands have not been met, a union representing the workers told the company in a letter on Monday. Hyundai said it would suspend operations at Read More »