Ford Shuts 3 Russian Plants and Will Stop Manufacturing Vehicles There
Ford Sollers, which is Ford Motor's joint venture in Russia will be shutting down 2 assembly factories plus an engine plant—costing them about $450-500 million. This was done partly because of restructuring, giving control to Soller's. Apparently, some sources say Ford was thinking about closing down Russian factories while it was evaluating dealings in non-lucrative areas. The American car company said the shutdown would result to numerous loss of jobs. The same restructuring fate also happened to Eurioe and South America as Ford aims to gain more in money-draining markets. Ford Sollers restructured version shall concentrate on commercial rides, while passenger car production will stop towards the end of June. New car sales in Russia are forecasted to grow by 3.6% this year, which is low compared to 2018.
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Photo credit: Mike Mozart via Flickr.
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