Tata Motors has announced that its subsidiary, Tata Passenger Electric Mobility Ltd (TPEML), will complete its acquisition of Ford India’s manufacturing plant in Sanand, Gujarat, on January 10, 2023.
In August 2022, Tata Motors and Ford India Private Limited (FIPL) signed a Unit Transfer Agreement (UTA), allowing the former to acquire the latter’s manufacturing plant. A Memorandum of Understanding (MoU) was also signed with the Gujarat government in May 2022.
As part of the agreement, Tata Motors will get the entire land and buildings, vehicle manufacturing plant with machinery and equipment. In addition, all the eligible employees at the Sanand unit of Ford India will be offered employment under TPEML on terms, conditions and benefits of service similar to those that were so far availed by them.
Tata Motors had previously said Ford India will continue to operate its powertrain manufacturing facility by leasing back the land and buildings of the powertrain manufacturing plant from Tata Passenger Electric Mobility on mutually agreed terms.
Tata Motors says this acquisition will unlock an additional state of-the-art manufacturing capacity of 3,00,000 units per annum which is scalable to 4,20,000 units per annum.”
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