[sri_tesla]

Tata Motors, which has proposed to acquire the passenger car manufacturing facility of Ford India at mo-town Sanand intends to invest an additional INR 2,000 crore and manufacture two lakh electric vehicles (EVs) by 2026 at the facility as per an ET report.

Tata Motors has sought a concession in land transfer rate. It has proposed to pay 20% of jantri rate of the land which comes to INR 66 crore. It has also asked for balance eligible incentives which were promised to Ford till 2030. Sources close to the development said these two major concessions sought by Tata Motors have been accepted by the government.

"The proposed takeover will become a major landmark in EV production in India and would trigger interests from local and global players for setting up local capabilities and capacities for new technologies in the state," said a note prepared by Gujarat government on the proposal. TOI has a copy of the government note.

A significant feature of the deal is that Tata Motors will not lay-off any employee of Ford, which reportedly gave direct or indirect employment to around 23,000.

Source:
https://auto.economictimes.indiatime...plant/90864361

[shortbread]

It's great to see such a great facility and the well-trained/experienced personnel not going to waste. Hopefully TML helps realise the true potential of the Sanand factory.

[volkman10]

Tata Motors gets Gujarat nod to take over Ford's Sanand plant.

With the state's green signal, Tata Motors will also be able to reap the benefits and incentives extended to Ford at the time the plant was launched.

Link