The acquisition deal includes entire land & buildings (Sanand Property), Vehicle Manufacturing Plant along with machinery and equipment and transfer of all eligible employees of Ford India’s vehicle manufacturing operations at Sanand for a total consideration, exclusive of taxes, of Rs 725.7 crore, , tata motors, Tata Passenger Electric Mobility Limited (TPEML), ford india, Sanand plant, acquistion
Tata Passenger Electric Mobility Limited (TPEML), a subsidiary of Tata Motors Limited (TML) on Tuesday completed the acquisition of Ford India Private Limited's (FIPL) manufacturing plant at Sanand in Gujarat.
The deal, which the Indian carmaker calls a "win-win for all stakeholders", would strengthen Tata's "leadership position in the electric vehicle (EV) segment." And it covers land, assets and all eligible employees.