Tata Motors announced on Tuesday that it has successfully acquired Ford India’s Sanand manufacturing facility through a subsidiary. The business announced the acquisition last year, stating that Tata Passenger Electric Mobility Ltd (TPEML) would purchase Ford India Pvt Ltd’s (FIPL) operations in Gujarat for Rs 725.7 crore.
According to a regulatory filing from Tata Motors, the parties have completed the transaction and TPEML has acquired the Sanand property, the vehicle manufacturing facility, and the machinery, subject to the fulfilment of the necessary conditions, which include receiving the necessary regulatory approvals.
Additionally, TPEML sent an employment offer to every worker in the car manufacturing industry. Those workers who accepted the offer were transferred to the business and began working for TPEML on January 10.
The transfer of all qualified staff from FIPL’s car manufacturing operations at Sanand was also part of the acquisition, which also covered the complete plot of land, all buildings, the vehicle manufacturing plant’s machinery, and equipment.
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