Tata’s e-Mobility the EV of Tata Motors, and Ford India completed the transaction and TPEML has acquired the Sanand Property and the VM Plant and Machinery.
Both parties had executed a Unit Transfer Agreement on August 7 for the acquisition of Ford India’s manufacturing plant at Sanand, Gujarat, which inter-alia includes: (i) entire land and buildings (ii) Vehicle Manufacturing Plant along with machinery and equipment situated therein and (iii) transfer of all eligible employees of FIPL’s vehicle manufacturing operations at Sanand. The total amount of the deal was Rs 725.7 crore.
Tata’s e-Mobility Passenger & Electric Vehicles business has delivered market-beating growth over the last few years and has strong plans to sustain this momentum, with its robust pipeline of future-ready “New Forever” products and proactive investments in electric vehicles. This acquisition will unlock an additional state-of-the-art manufacturing capacity of 300,000 units per annum which is scalable to 420,000 units per annum.
Tata Motors
Tata Motors Group (Tata Motors) is a $37 billion organization. It is a leading global automobile manufacturing company. Its diverse portfolio includes an extensive range of cars, sports utility vehicles, trucks, buses and defense vehicles. Tata Motors is one of India’s largest OEMs offering an extensive range of integrated, smart and e-mobility solutions
