Tata Passenger Electric Mobility Limited (TPEML), a subsidiary of Tata Motors Ltd, and Ford India Private Limited (FIPL) have signed a Memorandum of Understanding (MOU) with the Government of Gujarat (GoG) for the potential acquisition of FIPL’s Sanand vehicle manufacturing facility. The MoU includes the potential acquisition of the facility’s land & buildings, vehicle manufacturing plant, machinery and equipment and transfer of all eligible employees of FIPL Sanand’s vehicle manufacturing operations, subject to the signing of definitive agreements and receipt of relevant approvals.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
FIPL’s Sanand vehicle manufacturing facility:
The Ford India vehicle manufacturing site at Sanand is a state-of-the-art site. 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.
Important takeaways for all competitive exams:
- Tata Motors Ltd Headquarters: Mumbai;
- Tata Motors Ltd Founder: J. R. D. Tata;
- Tata Motors Ltd Founded: 1945, Mumbai.