Ford’s Sanand plant buy to help Tata Motors consolidate EV position
Tata Motors’ buyout of Ford India’s Sanand plant will strengthen the company’s position as a market leader in the electric vehicle (EV) market and help accelerate volume ramp-up in a cost effective way and bolster its EV ambitions, said analysts.
The Tata Group flagship corners 80 per cent share in the e-passenger vehicle market and it’s looking at a 5x jump in sales by end of next financial year.
Tata Passenger Electric Mobility Ltd (TPEML), the company’s subsidiary, has signed a unit transfer agreement (UTA) for the acquisition of Ford India’s manufacturing plant at Sanand in Gujarat for ₹725.7 crore, Tata Motors said in a late night notification to the exchanges.
