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Tata Motors to acquire Ford India's Sanand plant
2022-08-09
Tata Motors has reportedly announced that its subsidiary, Tata Passenger Electric Mobility (TPEML), has inked a pact to acquire Ford India's Sanand-based manufacturing plant for Rs 7.26 billion. TPEML and Ford India have signed a Unit Transfer Agreement (UTA) for the acquisition of the Gujarat-based plant. As part of the deal, Tata Motors will acquire the entire land and the buildings, and the vehicle manufacturing plant along with machinery and equipment situated therein. The deal also includes a transfer of all eligible employees.
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