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Ford Motor Company (NYSE:F) will stop making cars in India after reporting losses of around $2 billion in a decade. It becomes the latest car manufacturer to leave this market dominated by Asian brands. Q2 2021 hedge fund letters, conferences and more Significant LossesFord's decision affects more than 4,000 employees who will be laid off as production will come to a halt immediately. The giant automaker arrived in India 25 years ago but could never seize more than 2% of the market, after struggling for years to win over Indian consumers. As reported by Al Jazeera, “Ford will wind down an asse...
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Ford Motor Company (NYSE:F) has recruited an important Apple Inc (NASDAQ:AAPL) executive who was working on the company’s Titan project. The move is seen as a big blow for the Cupertino-based firm and its Apple car aspirations. Q2 2021 hedge fund letters, conferences and more Tough BlowAs reported by the Financial Times, the executive is Doug Field, who swapped Apple for Tesla Inc (NASDAQ:TSLA) in 2018 to become vice-president for special projects. He will become “Ford’s chief advanced technology and embedded systems officer with immediate effect” as announced on Tuesday. Field is set to be at...
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