SAO PAOLO, Brazil (WLNS) – The Ford Motor Company plans to close three factories in Brazil. That will put an end to Ford’s automobile production in that country.
Ford put out a press release on Monday, saying the closure was effective immediately. It blamed the COVID-19 pandemic, which is hitting the country especially hard. Brazil has the third-highest number of COVID-19 cases in the world, behind only the United States and India.
According to Ford, this has amplified the problems of idle capacity and slow sales in Brazil, which the company says have led to significant losses in recent years. Thousands of employees will be affected by these plant closures.
Ford has been operating in Brazil since 1919. The country will still be home to the company’s South American headquarters, proving grounds, and product development center.