Text: Original by Dongchedi Chang Siyue [Original by Dongchedi Industry] Recently, according to Indian media such as New Delhi TV (NDTV) in India, Ford Motor India branch has reached a severance compensation agreement with factory workers. Last year, Ford announced his withdrawal

text: Original by Dongchedi Chang Siyue

[Original by Dongchedi Industry] Recently, according to Indian media reports such as New Delhi TV (NDTV) in India, Ford Motor India branch has reached a severance compensation agreement with factory workers. Last year, Ford announced his withdrawal from the Indian market.

It is understood that Ford Auto has reached a compensation agreement for about 62 months of salary with these employees. The specific severance fee calculation standard is: Ford pays 140 days of salary for every year of service increase, and Ford will also pay a one-time fee of 1.5 lakh rupees for each employee.

Ford's SANAND factory in India

In 2021, Ford Motor withdrew from the Indian market that cost it billions of dollars, closing its factories in India. However, in April this year, foreign media said that Ford Motor is preparing to return to this market with electric car .

According to foreign media reports at the time, Ford negotiated with India's Tamil Nadu provincial government to discuss whether the Ford factory located here could be converted into a production of electric vehicles for domestic sales and exports. It is understood that Indian factories may have a large share of exports.

Mustang Mach-E

However, negotiations did not appear to have made progress, and in early May this year, Ford said it was seeking options for its two factories in India while shelving plans to produce electric vehicles in India for export.

On August 7, local time, India's Tata Motor Company signed an agreement to acquire a production factory in Ford Motor Company in Gujarat, western India for 7.26 billion rupees (about 91.5 million US dollars).

Tata Automobile Acquisition of Ford India Factory

Tata Automobile Official said in a statement that as the company's manufacturing capacity approaches saturation, the acquisition is timely and a win-win situation for all stakeholders.

26 years ago, Ford entered the Indian market, but for a long time, the Indian automobile market has been dominated by Japanese and Korean car companies such as Suzuki and Hyundai Motor, and Ford only accounts for 2% of the market share.