Categories: Business

Tata Motors Inks Pact For Potential Acquisition Of Ford India’s Plant In Gujarat

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.

Find More Business News Here

Sumit Arora

Recent Posts

Alix Didier Fils-Aime Sworn in as Haiti’s New Prime Minister

Businessman Alix Didier Fils-Aime has been sworn in as Haiti's new prime minister, vowing to…

47 mins ago

DRDO Successfully Conducts Maiden Flight Test of Long Range Land Attack Cruise Missile (LRLACM)

On November 12, 2024, the Defence Research and Development Organisation (DRDO) successfully conducted the maiden…

50 mins ago

Book Release on Motherhood: ‘Maa-Mother’ Launched by Law and Justice Minister Arjun Ram Meghwal

Law and Justice Minister Arjun Ram Meghwal launched a book titled ‘Maa-Mother’ in New Delhi,…

1 hour ago

Which Indian State is Known as the Mountain State?

India is a country known for its vast geography, which includes mountains, deserts, rivers, and…

1 hour ago

India Secures Top-10 Position Globally in Patents, Trademarks, and Industrial Designs

India has reached a significant milestone in intellectual property (IP) rights, now ranking within the…

1 hour ago

Record-Breaking Heat 2024 on Track to Be Warmest Year

The UN’s World Meteorological Organization (WMO) has issued a "red alert" on climate change, warning…

2 hours ago