Tata Motors to soon acquire Ford India’s Sanand plant
Tata Passenger Electric Mobility Limited, a subsidiary of Tata Motors Limited has started the procedure of acquiring Ford India's Sanand manufacturing plant. Tata Motors will be taking control of the entire land and buildings, vehicle manufacturing plant along with machinery and equipment situated therein and all employees for a total amount of ₹725.7 Crores. Both parties have decided to proceed towards the completion of the transaction on 10th January 2023. As part of the transaction, all eligible employees of Ford India Private Limited's vehicle manufacturing plant have been offered employment with TPEML on terms, conditions and benefits of service similar to those that are currently availed by them
Tata Motors would be able to increase its manufacturing capacity to 4,20,000 units per annum. As of now, the manufacturer has a manufacturing capacity of 3,00,000 units per annum.
Tata Motors is currently the leading manufacturer when it comes to electric vehicles. Moreover, the company is doing quite well with its products. As of now, Tata Motors has Tiago, Tigor, Altroz, Punch, Nexon, Harrier and Safari in its line-up. They also have the largest line-up of electric vehicles with Nexon EV, Tigor EV and the more recently launched Tiago EV. Tata Motors will be expanding the EV line-up with Altroz EV and Punch EV. The manufacturer is also working on a facelift of Safari and Harrier.