Tata Motors signs agreement to buy Ford’s Gujarat plant

BENGALURU: Tata Motors Ltd announced on Monday that its electric mobility unit has agreed to buy Ford Motor Company’s Sanand vehicle production site in Gujarat.

Last year, the American automaker halted production in India, where it had a less than 2% market share and had failed to generate a profit for more than two decades.

Tata Motors announced earlier this month that it was looking for alternatives for its two plants in India, as well as abandoning ambitions to produce electric vehicles for export.

The land, assets, and all eligible personnel working at the Sanand facility are included in the agreement of understanding between Tata Passenger Electric Mobility Ltd, Ford India Private Ltd, and the Gujarat government.

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