Category: Auto Classifieds

Ford infuses over Rs 5,000 crore in Indian unit to manage exit costs, Auto News, ET Auto

Ford India stated in September that it would cease producing vehicles for sale in India straight away.

US automaker Ford Motor Co has infused far more than Rs five,000 crore in its Indian subsidiary, just months into saying its exit from this sector.

The cash have been infused in two tranches — Rs 2,a hundred seventy five crore in September and Rs 2,900 crore this thirty day period, totalling Rs five,075 crore, in accordance to money data sourced through company intelligence platform Tofler.

The explanation driving the fund infusion in the Indian subsidiary is not identified, but it is probable to be used for settling remarkable payments with dealers and sellers, and delivering separation deals to employees.

An email despatched to Ford India did not elicit any reaction until press time Friday. Ford India’s spokesperson could not be contacted in excess of the telephone.

At the time of saying its

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