Sunday, October 2, 2022

Tata Motors signs MoU for takeover of Ford Motor’s Sanand, Gujarat plant

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Tata Motors has signed MoU for takeover of Ford Motor’s Sanand, Gujarat plant. Tata Passenger Electric Mobility Ltd (TPEML), a subsidiary of Tata Motors Ltd, and Ford India Private Ltd (FIPL), have entered into a Memorandum of Understanding (MOU) with the Government of Gujarat (GoG) for the potential acquisition of FIPL’s Sanand vehicle manufacturing facility including Land & Buildings, Vehicle Manufacturing Plant, Machinery and Equipment and transfer of all eligible employees of FIPL Sanand’s vehicle manufacturing operations.

As per the MoU, FIPL will operate its Powertrain manufacturing facilities by leasing back the land and buildings of the Powertrain unit from TPEML. TPEML would invest into new machinery and equipment which is necessary to commission and make the unit ready to produce its vehicles.

With the proposed investments, it would establish an installed capacity of 300,000 units per annum, which would be scalable to more than 400,000 units.

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