Ford India’s Sanand Plant is Acquired by Tata Motors for Rs. 725 Crore

 


Original Content- Business Upside India 

The Tata Passenger Electric Mobility Limited subsidiary of Tata Motors Ltd has signed an agreement with Ford India Private Limited acquisition of its Sanand, Gujarat manufacturing plant for Rs 725.7 crore.

This Unit Transfer Agreement (UTA) covers the plot of land, all buildings, the vehicle manufacturing plant’s machinery and equipment, and the transfer of all qualified workers of FIPL’s Sanand vehicle manufacturing operations.

The Powertrain Manufacturing Plant’s land and structures will be leased back to Ford India by TPEML on mutually agreeable terms, allowing it to continue operating its Powertrain Manufacturing Facility. The announcement also stated that TPEML had pledged to extend job opportunities to the qualified workers of Ford India’s Powertrain Manufacturing Plant if Ford India private limited stopped conducting such operations. Ford Sanand plant can build 270,000 engines per year and 300,000 passenger cars per year.

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