Tech

Tata Passenger Electric Mobility Limited acquires Ford India’s Sanand plant



On August 7, 2022, Tata Passenger Electric Mobility Limited (A subsidiary of Tata Motors Co., Ltd) and Ford India Private Limited Company signed an agreement to transfer ownership of Ford’s manufacturing plant located in Sanand, Gujarat. This includes the transfer of all land and buildings, vehicle factories, machinery and equipment, as well as the transfer of qualified employees engaged in the vehicle manufacturing activities of the Company. Ford at Sanand. Total acquisition cost, excluding tax, is Rs 725.7 crores.
Upon completion of all necessary requirements, including obtaining the necessary regulatory approval, the transaction is now completed and TPEML (Tata Passenger Electric Mobility Limited) took ownership of the Sanand Property, Vehicles and Machinery Manufacturing Plant. Employees who previously worked for Ford and accepted TPEML’s job offer, are now officially transferred and are employees of TPEML, effective January 10, 2023. TPEML sends greetings Warm regards to all the employees who have joined this company.
Tata Motors’ Passenger & Electric Vehicle business has delivered outperforming market growth over the past few years and has strong plans to maintain this momentum with a strong portfolio of products. “Forever New” is future-ready and proactive investments in electric vehicles. With current capacity near saturation, this acquisition will open up additional modern production capacity of 300,000 units per year, expandable to 420,000 units per year.
The acquisition includes the transfer of all land and buildings, the vehicle plant, machinery and equipment, as well as the transfer of qualified employees in Ford’s vehicle manufacturing operations. at Sanand. Total acquisition cost is Rs 725.7 crores. With this acquisition, TPEML will have an additional modern production capacity of 300,000 units per year, which can be expanded to 420,000 units per year. The transferred employees are officially TPEML employees as of January 10, 2023.

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