Dismissing reports suggesting the conclusion of Mondeo in Europe, Ford on Monday clarified that it had slated a plan of upgrading the vehicle rather than killing it.

On Sunday various reports suggested that the American auto giant was planning on pulling the plugs on the family sedan and that it would cause the loss of up to 24,000 jobs. However, speaking to Bloomberg, the company said “We have upgrades coming for Mondeo later this year, which will see new powertrains as well as exterior and interior updates as well as enhancements to the Mondeo Hybrid range,”

Ford had earlier acknowledged that its European operations needed a major revamp in order to meet the targets

Ford had earlier acknowledged that its European operations needed a major revamp in order to meet the targets. Additionally, the company also stated that it was focussed on cutting costs to improve performance.

Earlier this week reports also stated that the company was considering to pull the plugs on the Galaxy and S-Max models. This was, however, denied by the company. All of the three cars are manufactured at Ford’s plant in Valencia which employs close to 3,500 people.

Earlier this week reports also stated that the company was considering to conclude the production of Galaxy and S-Max models

Amid the reports, Unite Union, a joint entity that represents workers at Ford’s engine plants stated that it was insisting on investing and future-proofing its British factories.

It is not a new fact that the American auto giant is under a major global restructuring expected to cost $11 billion in the next three to five years. With the revamp, the company had decided to phase out its sedans, aiming at 10 per cent profit margins in North America alone.