Tata Motors announced the signing of a tripartite pact with Ford and the Gujarat government to acquire the American auto major’s vehicle manufacturing plant at Sanand.
A memorandum of understanding was signed between Tata Passenger Electric Mobility, a subsidiary of Tata Motors, and Ford India with the Gujarat government for the potential acquisition of FIPL’s Sanand facility, including land, buildings, vehicle manufacturing plant, machinery and equipment, Tata Motors said in a filing.
The MoU also includes the transfer of all eligible employees of FIPL Sanand’s vehicle manufacturing operations, subject to the signing of definitive agreements and receipt of relevant approvals, it added.
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