‘Tata Motors to take over Ford’s Sanand plant’

The Gujarat authorities has accepted a proposal submitted by Tata Motors to take over Ford India’s vehicle-manufacturing plant in Sanand. The state Cabinet has issued a no-objection certificates for the proposal, based on sources.

The advantages prolonged to Ford India for the Sanand plant can be loved by Tata Motors as properly, the sources confirmed. A proper settlement concerning the takeover is but to be signed between the 2 corporations. Both Tata Motors and Ford India declined to touch upon the matter when FE reached out to them.

Ford India had introduced its exit from the nation in September 2021. Despite investing considerably within the nation, the corporate had amassed greater than $2 billion of working losses over the previous 10 years.

Manufacturing operations had been halted at Ford India’s Sanand plant final month. The firm has a plant in Chennai as properly. While the Sanand plant has near 2,500 staff, the Chennai plant has almost 2,600 staff.

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While the Tata Group has been in talks with Ford India in addition to the state governments of Gujarat and Tamil Nadu for taking up each vegetation of the latter for fairly a while now, the unions on the Chennai and Sanand vegetation have been demanding job safety within the occasion of any such transfer.

Ford India was additionally among the many 20 corporations chosen for performance-linked incentives for electrical autos (EVs) in February 2022. —FE