On Monday, Tata Motors signed a Memorandum of Understanding (MoU) with its subsidiary and with the government of Gujrat for the acquisition of Ford in India in the Sanand plant.

“Tata Passenger Electric Mobility Limited (TPEML), a subsidiary of Tata Motors Ltd, and Ford India Private Limited (FIPL) have today signed a Memorandum of Understanding (MOU) with the Government of Gujarat (GoG) for the potential acquisition of FIPL’s Sanand vehicle manufacturing facility,” the Tata Group firm informed in an exchange filing.

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This acquisition has included all land and building, machinery and equipment, vehicle manufacturing plant, and transfer of all eligible employees for FIPL Sanand vehicle manufacturing operation, which are subjected to all agreements and approvals.

FIPL will operate its Powertrain manufacturing facilities by leasing back the land and buildings of the Powertrain unit from TPEML.

Ford India Private Limited (FIPL) will operate with powertrain manufacturing facilities by leasing back the land and building of Powertrain unit from Tata Passenger Electric Mobility Limited (TPEML).

FIPL has a manufacturing site at Sanand is a state of the art site. To invest in new machinery equipment, which is necessary for the commission to make the unit ready to produce its vehicles by TPEML.