Tata Motors Signs MoU With Gujarat Government

Tata Motors has signed a Memorandum of Understanding with the Government of Gujarat for the potential acquisition of Ford India’s Sanand vehicle manufacturing facility… The acquisition will include the land, buildings, vehicle manufacturing plant and machinery… in fact the company also plans to retain all the eligible employees. Tata Motors also plans to invest into new machinery and equipment for the Sanand facility with an aim of establishing an installed capacity of 3 lakh units per annum scalable to 4 lakh units. The carmaker will manufacture both internal combustion engine cars as well as electric vehicle. Tata is working with Ford over a definitive agreement for the acquisition of the plant, and an announcement is likely to come in the following weeks.