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    Bolsonaro says Ford is shutting down Brazilian operations due to the end of subsidies

    BRAZIL (Reuters) – Brazilian President Jair Bolsonaro on Tuesday attributed Ford Motor Co.’s decision to close its three factories in Brazil to the end of multi-billion dollar subsidies from the government.

    “What does Ford want? Ford has yet to tell the truth, right? They want subsidies, ”Bolsonaro said in a speech with supporters recorded on video and posted on social media.

    Bolsonaro criticized past administrations ‘decision to subsidize the industry with taxpayers’ money and lamented the loss of 5,000 jobs in the country.

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    Ford did not immediately respond to a request for comment on Bolsonaro’s remarks.

    On Monday, Ford said it will close its factories in Brazil this year, two of them immediately, and will bear approximately $ 4.1 billion, as the COVID-19 pandemic amplified the underutilization of its manufacturing capacity by the company. ‘company.

    Ford officials said the action was part of the US automaker’s previously planned $ 11 billion global restructuring.

    Reporting by Ricardo Brito; writing by Sabrina Valle; editing by Jonathan Oatis

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