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Ford India denies talks with Taiwan's Foxconn for selling Chennai unit

Automobile firm is finalising a severance package with 2,000 employees working at the factory

Ford's restructuring in India is in line with the global strategy it has embarked on, to exit non-profitable and under-performing markets. As part of this, in January 2021, it exited Brazil.

Shine Jacob Chennai
Ford India said on Thursday it is not in talks with Taiwan’s Hon Hai Technology Group (Foxconn) for handing over its factory in Chennai’s Maraimalai Nagar.

Reports said Foxconn plans to set up an electric vehicle (EV) manufacturing unit in India and it is considering Tamil Nadu for the investment. “We deny having a meeting with Foxconn and would refrain from commenting on the rumours any further,” Ford India said in a statement on Thursday.

Ford India is finalising a severance package with around 2,000 employees working at the Maraimalai Nagar unit. According to the company, around 50 per cent

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First Published: Jun 23 2022 | 10:46 PM IST

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