Tata Motors inks MoU for acquisition of Ford India’s Sanand plant by admin- Monday, May 30th, 2022 05:02:52 PM
Tata Passenger Electric Mobility Ltd (TPEML), a subsidiary of Tata Motors Ltd, and Ford India Pvt Ltd (FIPL), signed a Memorandum of Understanding (MOU) with the Government of Gujarat (GoG) for the ability acquisition of FIPL’s Sanand car manufacturing facility including (i) Land & Buildings (ii) Vehicle Manufacturing Plant, Machinery and Equipment and (iii) switch of all eligible personnel of FIPL Sanand’s automobile production operations, challenge to the signing of definitive agreements and receipt of relevant approvals. FIPL will perform its Powertrain manufacturing centers with the aid of leasing returned the land and buildings of the Powertrain unit from TPEML.
Tata Motor’s Passenger and Electric Vehicles have added marketplace beating increase with its “New Forever” variety of merchandise over the last years. This growth momentum is predicted to hold with the sturdy pipeline of future geared up products and our proactive investments in Electric Vehicles. With growing capacity utilisations, sustaining this growth will require augmenting TML’s PV/EV manufacturing capacity in the coming years.