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Tata Motors Acquires Ford’s India Car Plant for $91.5m

Tata Motors Acquires Ford’s India Car Plant for $91.5m
08 August 2022
 

Tata Motors, owner of Jaguar Land Rover, has signed a deal to take over a Ford manufacturing plant in Sanand, Gujarat, to help meet car production demand.

The deal includes the entirety of the estate’s land, buildings, machinery and the transfer of all employees.

Tata Motors, a $37 billion company, is India’s market leader in commercial vehicles and amongst the top three in the passenger vehicles market.

Tata Motors already has manufacturing, R&D and design facilities in more than 25 sites across India, Europe, China, UK and North America. However, as the company’s manufacturing capacity in India reaches its limits, this latest acquisition will mean producing up to 420,000 more units per year.

 

Ford Sheds Real Estate in India

 

In an official statement, Steve Armstrong, Transformation Officer of Ford Motor Company said “Today’s announcement marks an important step forward in Ford’s ongoing business restructuring in India, which is part of our Ford+ plan for strategic transformation.

“With the transfer of employment for eligible vehicle manufacturing employees included in the agreement, this milestone also highlights our best effort in caring for those impacted by the restructuring.”

Ford has manufactured cars in India since 1995, at other facilities alongside the Sanand plant, at Chennai and Tamil Nadu. In September 2021, after operating at losses of more than $2 billion dollars for ten years, Ford announced it would shut down operations in India.

According to the New Indian Express, Ford wound down its operations at the Chennai and Tamil Nadu plants in July 2022.

Picture: a photograph of a Tata 45X concept car. Image credit: Tata Motors

Article written by Ella Tansley | Published 08 August 2022

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