On August 7, 2022, Tata Passenger Electric Mobility Limited (a subsidiary of Tata Motors Limited) and Ford India Private Limited entered into an agreement for the transfer of ownership of Ford’s manufacturing plant located in Sanand, Gujarat. This includes the transfer of the entire land and buildings, vehicle manufacturing plant, machinery, and equipment, as well as the transfer of eligible employees of Ford’s vehicle manufacturing operations at Sanand. The total cost of the acquisition, exclusive of taxes, is Rs 725.7 crores.
After fulfilling all necessary requirements, including obtaining necessary regulatory approvals, the transaction has now been completed, and TPEML (Tata Passenger Electric Mobility Limited) has taken ownership of the Sanand Property, the Vehicle Manufacturing Plant, and the Machinery. The employees who previously worked for Ford, and accepted TPEML’s employment offer, are now officially transferred and are employees of TPEML, effective January 10, 2023. TPEML extends a warm welcome to all these employees who have joined the company.
