Gujarat The cabinet has approved a proposal submitted by Tata Motors To get Wade India’s passenger car manufacturing plant at Sanand near Ahmedabad. The cabinet has issued a no-objection certificate on the proposal of the companies, and today i.e. on 30th May 2022, a MoU will be signed in the presence of Gujarat Chief Minister Bhupendra Patel.
Ford Motor Company announced its exit from the Indian market late last year, and the Sanand plant has been lying idle since April this year. sources confirmed Bye Motors plans to build electric vehicles at the new plant after making new investments to reexamine Ford’s existing infrastructure.
“The Gujarat cabinet approval is only a green signal…the companies are still in talks to work out the specifics with regard to the size of the deal, labor issues, financials, and duties and benefits involved in the acquisition. Agreed, there can be a definite agreement between the two automakers,” said an official.
Ford’s Sanand plant has a total installed capacity of manufacturing 3,00,000 units annually and its engine plant has an annual installed capacity of 2.7 lakh units. The acquisition will help Tata Motors build more capacity to meet the rapidly growing demand for the brand. Tata is currently the third largest selling passenger vehicle manufacturer in the Indian market after Maruti Suzuki and Hyundai.
Ford Motor Company announced its exit from the Indian market late last year, and the Sanand plant has been lying idle since April this year. sources confirmed Bye Motors plans to build electric vehicles at the new plant after making new investments to reexamine Ford’s existing infrastructure.
“The Gujarat cabinet approval is only a green signal…the companies are still in talks to work out the specifics with regard to the size of the deal, labor issues, financials, and duties and benefits involved in the acquisition. Agreed, there can be a definite agreement between the two automakers,” said an official.
Ford’s Sanand plant has a total installed capacity of manufacturing 3,00,000 units annually and its engine plant has an annual installed capacity of 2.7 lakh units. The acquisition will help Tata Motors build more capacity to meet the rapidly growing demand for the brand. Tata is currently the third largest selling passenger vehicle manufacturer in the Indian market after Maruti Suzuki and Hyundai.