Ford Motor Co. has pulled out of Wingcast LLC, its joint venture with Qualcomm Inc. to produce
telematics services in vehicles, the automaker said June 3, according to an Associated Press report.
Ford's decision means Wingcast will be dissolved, according to a statement from Qualcomm, which owns 15 percent of the venture.
Wingcast's 200 employees learned late on June 3 that they were losing their jobs, Ford spokesman David Reuter said. "Ford made the decision to stop funding the joint venture with Qualcomm as part of our back-to-basics efforts," Reuter told AP.
Ford, which owns 85 percent of the 18-month-old enterprise, has not given up on efforts to provide onboard electronic services similar to OnStar, operated by General Motors Corp., Reuter said.