Thursday, January 05, 2023
By Kamal Swami
Tata Motors To Procure Ford India’s, Sanand Plant
The domestic carmaker Tata Motors is going to Acquire Ford India’s production unit located in Sanand, Gujarat. According to reports, Tata Passenger Electric Mobility Limited, or TPEML, the subsidiary of Tata Motors will acquire this plant to enhance its production activities. In recent years, TPEML has emerged as one of the fast-growing electric vehicle manufacturing companies in the country. The agreement regarding this was signed between the authorities of both companies on August 7, 2022.
In the press release issued by TPEML and Ford India Pvt. Ltd., the Indian manufacturer will not only acquire the production unit of the US-based company but also its staff, equipment and machinery. The whole process of acquirement will be conducted on January 10, 2023. From January 10, 2023, the plant will move into the hands of TPEML.
It is reported that the whole deal was finalized for Rs 725 crore 70 lahks, excluding tax. The existing staff of Ford India Pvt. Ltd., will be given a new contract from TPEML. The approval from the existing state government will be added to the entire deal. Industry experts believe that the homegrown company Tata Motors will play an incredible role in the future of electric mobility. By acquiring the Sanand plant, the company will be able to manufacture up to 4 lakh additional electric vehicles. The existing production plant of the company at Chharori is 15 km from the new plant. The Chharori plant is called as Tata Motors Nano Plant. The plant started production activities in 2008.
