On Tuesday, January 10, 2023, Tata Motors announced that its subsidiary had successfully completed the acquisition of Ford India’s Sanand manufacturing facility.
The announcement that Tata Passenger Electric Mobility Ltd. (TPEML), the company’s subsidiary, would acquire Ford India Pvt. Ltd.’s (FIPL) Sanand plant in Gujarat for Rs 725.7 crore was made in August, 2022.
In a regulatory filing, Tata Motors said that TPEML had acquired the vehicle manufacturing plant and machinery as well as the Sanand property following the fulfilment of the necessary conditions, which included receiving relevant regulatory approvals.
In addition, TPEML has also offered employment to all vehicle manufacturing facility employees, and those who accepted the offer have been transferred to the company and become TPEML employees with effect from January 10, 2023.
The acquisition includes the entire land as well as the buildings of the Ford vehicle manufacturing plant, and all eligible employees of FIPL’s Sanand vehicle manufacturing operations, along with machinery and equipment.