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
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:
The Indian Space Research Organization (ISRO) has announced that its LVM3-M6 mission will be launched…
Rivers and freshwater areas are home to many powerful and unique animals. Some of them…
An important reform aimed at strengthening India’s banking system the Central Board of Directors of…
The Postgraduate Institute of Medical Education and Research (PGIMER) Chandigarh, has once again emerged as…
Light is all around us, and it is made up of many different colours. Each…
To strengthening rural banking in India the Ministry of Finance has unveiled a new common…