Tata Passenger Electric Mobility Limited (TPEML), a subsidiary of Tata Motors Limited, has started the process of acquiring the Ford factory in Sanand, India.
Tata Motors will take control of all the land and buildings, the vehicle manufacturing plant and the machinery and equipment located therein and all employees.
Both parties have decided to proceed with the settlement of the transaction on January 10, 2023.
As part of the transaction, all eligible employees of the Ford India Private Limited vehicle manufacturing plant have been offered employment with TPEML with terms, conditions and service benefits similar to those currently available to them.
Tata Motors is currently the leading manufacturer of electric vehicles (EV) in India. Currently, Tata Motors has a range of Tiago, Tigor, Altroz, Punch, Nexon, Harrier and Safari.
They also have the largest electric vehicle lineup with the recently launched Nexon EV, Tigor EV and Tiago EV.
Tata Motors will expand its range of electric vehicles, with the Altroz EV and Punch EV. The manufacturer is also working on facelifts for the Safari and Harrier.
