Tata Ford Plant: Tata Motors officially completes acquisition of Ford India plant, will increase EV lineup – Tata Passengers Electric Mobility Limited Officially Completes Acquisition Of Ford India Sanand Plant

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Tata Passengers Electric Mobility Limited (Tata Passengers Electric Mobility Limited) on Tuesday officially completed the acquisition of the erstwhile Ford India (Ford India) plant in Sanand, Gujarat. In a Bombay Stock Exchange (BSE) filing, the company informed that it has completed the transaction for the acquisition of Sanand Assets and VM Plant & Machinery.

All eligible employees of Ford India Private Limited (Ford India Pvt Ltd) – who have accepted the offer of job offers – have now become employees of Tata Passengers Electric Mobility Limited from Tuesday. The acquisition includes the services of these employees, the entire land and building previously owned by Ford India as well as the vehicle manufacturing plant for an amount of Rs 725.7 crore, excluding taxes.

Tata Motors is betting big on electric vehicles and has already captured a major share of this space in the Indian automotive market. With the acquisition of Ford’s plant, the company is looking to increase its annual manufacturing capacity to three lakh units, which can be increased to 4.20 lakh units.

Currently, Tata Motors sells electric models like Nexon EV, Tigor EV and the recently launched Tiago EV. At the upcoming Auto Expo 2023, the company has confirmed that it will showcase more electric models from its existing lineup of ‘regular’ vehicles. The list of EV versions to be showcased includes Safari, Harrier, Punch as well as Altroz.

Tata Motors has established itself as a major player in the electric car space, with no direct competitors close to its product portfolio in this regard. Maruti Suzuki is unlikely to introduce any EV before the year 2025. Other automakers like Hyundai and Kia Motors have or will have high end models priced above 50 lakhs.