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With '$2bn hit' Auto giant Ford to stop manufacturing in India

US auto giant Ford Motor Co will end manufacturing in India and take a hit of about $2 billion as it does not see a path to profitability in the country, becoming the latest automaker to leave a major growth market dominated by Asian rivals.

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With '$2bn hit' Auto giant Ford to stop manufacturing in India
GNN Media: Representational Photo

The decision by Ford comes after it struggled for years to win over Indian consumers and turn a profit. The carmaker entered India 25 years ago but has a less than 2% share of the passenger vehicles market.

In its statement, Ford said it accumulated operating losses of more than $2 billion in 10 years in India and demand for its new vehicles had been weak.

"Despite (our) efforts, we have not been able to find a sustainable path forward to long-term profitability," Ford India head Anurag Mehrotra said in the statement.

"The decision was reinforced by years of accumulated losses, persistent industry overcapacity and lack of expected growth in India's car market," he said.

Ford follows other U.S. carmakers such as General Motors and Harley Davidson which have already left India, a market that had once promised exponential growth. The country is dominated by mainly low-cost cars made by Suzuki Motor Corp and Hyundai Motor .

As part of the plan, Ford India will wind down operations at its plant in Sanand in the western state of Gujarat by the fourth quarter of 2021 and vehicle and engine manufacturing in its southern Indian plant in Chennai by 2022.

The US automaker will continue to sell some of its cars in India through imports and it will also provide support to dealers to service existing customers, it said. Around 4,000 employees are expected to be affected by its decision.

The decision to stop production in India comes after Ford and domestic carmaker Mahindra & Mahindra failed to finalise a joint venture partnership that would have allowed Ford to continue producing cars at a lower cost than currently but cease its independent operations.

The company said the decision to cease production was made after considering several other options including partnerships, platform sharing, contract manufacturing and the possibility of selling its manufacturing plants, which is still under review.

SOURCE: REUTERS

Faisal Ali Ghumman is a senior editor at GNN, known for writing top quality content which garner very high readerships and has been covering every field of journalism, including politics, media, sports and scholarly articles. Faisal Ali Ghumman is nothing less than a Veteran Editor and has been writing for GNN for the past 3 months.

Pakistan

‘Covid fourth wave’: Pakistan's coronavirus positivity rate falls to 5.45%

Islamabad: Pakistan is witnessing daily surge in COVID-19 cases with authorities linking the upswing to the deadly fourth wave. Today country’s positivity rate is on 5.45%.

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‘Covid fourth wave’: Pakistan's coronavirus positivity rate falls to 5.45%

As per National Command and Control Center (NCOC), Pakistan conducted a total of 57,792 tests in the last 24 hours.

Around 3,153 cases of coronavirus were reported while 58 people succumbed to the disease in the last 24 hours, taking the total death toll to 26,720.

As per the command centre, total confirmed cases are 1,204,520 whereas 5,370 are under critical care.

Punjab              

The number of patients swelled to 413,182 in the province with 12,211 causalities.

Sindh

The number of infections has surged to 444,464 in the province, while the death toll has reached 7,133.

Khyber Pakhtunkhwa

The confirmed cases have surged to 168,258 in the province with 5,250 casualties.

Balochistan

There are 32,569 confirmed cases while 342 patients have died from the infection so far.

AJK and Gilgit-Baltistan

There are 33,268 coronavirus cases in the AJK while the death toll has reached 718. On the other hand, there are 10,162 cases in GB with 179 coronavirus deaths.

Islamabad

There are 102,617 cases in the capital city while 887 people have lost their lives.

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Sports

SumaiL and YawaR to contest for $40 million prize money from Dota 2, The International 10

Two Pakistani brothers, Syed Sumail "SumaiL" Hassan and Yawar "YawaR" Hassan will participate in The International 10 which has a prize pool of $40 million.

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Phote: Yawar "YawaR" Hassan (left), Syed Sumail "SumaiL" Hassan (right) in their team jerseys

Hailing from Karachi, Pakistan, Syed Sumail "SumaiL" Hassan and Yawar "YawaR" Hassan have shown their immense talent in the well acknowledged MOBA and MMORPG game, Dota 2. Sumail has previously participated and won the 5th version of the tournament at the age of 16 years and 176 days old and became the youngest player ever to win over a million dollars. Both of them have briefly played together in the same team Quincy Crew, but Sumail left in nearly 3 weeks of being in the team. 

Sumail and Yawar are brothers. Yawar is 2 years older than Sumail. They both moved to Rosemont, Illinois when their family relocated in 2012 and started competing in the North American region where competition has always been very tough. Sumail's gameplay was so impressive that he was recruited by the number one North American ESports organization at that time in 2015, Evil Geniuses, who not only recruited him when he was only 16 years old but also gave him the responsibility of one of the leading core roles of the game, the midlane. Not only did he impress the world with his classy and bold plays, he proved his skills to the world by winning The International 2015, becoming the youngest millionare in the history of ESports.

His older brother Yawar, has also been competing at the highest level since they both began playing the North American region, however, Yawar only had the opportunity to play The Internation only once before, while Sumail had been participating in TIs since 2015 representing EG. This would be the second time the brothers will be up against each other representing different teams for a prize pool of $40 million.

SumaiL will be representing the team OG with the ingame name of OG.SumaiL in the coming tournament where he would be playing the role of a core player as position 1, more commonly known as the 'carry' position in the game, whereas Yawar will be playing in the well acknowledged team from North America, Quincy Crew, with the in game name QC.YS. His position would be the same as SumaiL's which is position 1.

Sumail in ESL Frankfurt 2015

SumaiL has been hailed as the King of the game for almost 6 years now given that he astonished the world with his immensely aggresive and smart plays when he used to play the role of position 2, also known as the midlaner, for the North American team 'Evil Geniuses'. In 2015, SumaiL claimed the Aegis of the Immortal, which is the name of the trophy presented to the winners of the largest esports tournament in the world, The International, Dota 2 Championships. His total earnings as of 21st of September, 2021 are $3,617,984.01 from 73 tournaments around the world, making him the highest esports earner as well as the youngest millionare in the history of eSports.

Yawar playing Dota 2
Yawar has prominently risen to fame in the recent years where he and his team the Quincy Crew, ranked number one in the North American region beating their rivals Evil Geniuses in the ranking system of Dota 2 called the Dota Pro Circuit (DPC) in the year 2020, following multiple tournament wins from different small to medium level tournaments of Dota 2. Due to Yawar's immensely versatile set of heroes, he has been playing a vital role in the team providing the team the ability to drive many different strategies due to his large hero pool. Yawar's current total earnings are $432,911 From 43 Tournaments.

The path to qualification for this year's The International was not at all easy for both the brothers as SumaiL was no longer playing in the DPC as he was a free agent, he played as a stand-in for Team Liquid, also a top tier team and a former TI winner, when one of their players Samuel 'Boxi' Svahn  decided to take a break, however, that pairing didn't work out as the team poorly performed in the Major. Yawar on the other hand, played immensely well in this tenure, beating top tier teams from around the world with his team QC. Due to multiple wins at the highest level, QC was already very high in the rankings of the DPC, following up with a mediocre performance in the Major where his team stood 6-7th place. This was enough to secure a position at The International 10 which will be held between Thu, Oct 7, 2021 – Sun, Oct 17, 2021.

For Sumail, the days turned to joy when he was recruited back to the only two times back to back TI winners in the previous years 2018 and 2019, OG as position 1 carry player, but it wasn't easy as OG had been poorly performing in the DPC causing them to be very lower ranked in the DPC rankings and due to this they had to fight through the NA qualifiers to earn a place at the TI to defend their title. The path through the qualifiers wasn't easy, fan favourite teams like Nigma, Team Liquid and Tundra ESports were also fighting in the qualifiers. However, once Sumail was settled in the team, his performances immensely improved and stunned many of their competitors as they marched through to the upper bracket finals in the qualifiers, only to be beaten by Tundra Esports and fall down to lower bracket where one of the toughest teams in the world, Team Nigma, was waiting for them. Following up with the loss to Tundra, OG didn't lose their motivation as they beat Team Nigma 2-1 in a best of three series to progress to the grand finals of the NA qualifiers where they had to face Tundra again. This time around, however, OG didn't make the same mistakes they previously made agaisnt Tundra and fought to the last battle and defeated them very convicingly in the 5th and final game of the grand finals which was a best of five, 3-2 to OG.

Tournament Dates to follow:

 Thu, Oct 7, 2021 – Sun, Oct 17, 2021

As Pakistanis, GNN wishes them the best of luck and is rooting for the both of them.

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Pakistan

COVID-19: Deadly fourth wave ebbs in country, deaths record slight decline

According to National Command and Operations Center (NCOC), around 2,333 cases of coronavirus were reported while 47 people succumbed to the disease in the last 24 hours, taking the total death toll to 27,374.

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COVID-19: Deadly fourth wave ebbs in country, deaths record slight decline

Islamabad: Pakistan is presently experiencing the fourth wave of coronavirus which is said to be deadlier and more contagious than previous three COVID waves. Today, the daily Covid-19 positivity rate in country is at 4.56%.

According to National Command and Operations Center (NCOC), around 2,333 cases of coronavirus were reported while 47 people succumbed to the disease in the last 24 hours, taking the total death toll to 27,374.

The total number of cases has reached 1,230,238.

As many as 1,140,917 patients have recovered from the disease with 4,641 critical cases.

Punjab           

The number of patients swelled to 424,701 in the province with 12,470 causalities.

Sindh

The number of infections has surged to 452,267 in the province, while the death toll has reached 7,295.

Khyber Pakhtunkhwa

The confirmed cases have surged to 171,874 in the province with 5,444 casualties.

Balochistan

There are 32,796 confirmed cases while 345 patients have died from the infection so far.

AJK and Gilgit-Baltistan

There are 33,864 coronavirus cases in the AJK while the death toll has reached 733. On the other hand, there are 10,264 cases in GB with 182 coronavirus deaths.

Islamabad

There are 104,472 cases in the capital city while 905 people have lost their lives.

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