NEW DELHI: Tata Motors has inked a pact to acquire Ford India’s Sanand-based manufacturing plant for Rs 725.7 crore, as it aims to bolster its passenger vehicle production capacity.
As part of the deal, Tata Motors will get the entire land and buildings, vehicle manufacturing plant along with machinery and equipment situated therein, the Mumbai-based auto major said in a statement.
The deal also includes the transfer of all eligible employees, it added.
Tata Motors said with its manufacturing capacity nearing saturation, the acquisition is timely and a win-win for all stakeholders.
The Sanand plant has a manufacturing capacity of 3 lakh units per annum, which is scalable to 4.2 lakh units per annum.
This story is from the August 09, 2022 edition of Millennium Post Delhi.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the August 09, 2022 edition of Millennium Post Delhi.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Rajiv Scrapped 'Inheritance Law' To Save His Property: PM Attacks Cong In MP
Congress' Shahzade Is Naamdar And We Are Kaamdar, Says PM
Israel-Gaza War: Five Dead After Israel Strikes In Rafah
Ship Comes Under Attack In Gulf
I was compared to a dog: Aayush Sharma
He heard cruel comments like 'Salman Khan should have launched a dog instead' of him
Patidar, spinners help RCB snap six-match losing streak
RCB BEAT SRH BY 35 RUNS
ITC plans to open more hotels overseas, says CMD Sanjiv Puri
Besides the hotels, ITC will look for opportunities to expand presence of FMCG & other verticals in new overseas markets as well
'Resilient economy, price stability to support India's growth story'
Overall, India continues to be the fastest-growing major economy, with positive assessments of the growth outlook for current financial year
Vedanta posts Q4 net profit of ₹1,369 crore
Anil Agarwal led Vedanta Ltd on Thursday reported a 27.2 per cent decline in consolidated net profit to Rs 1,369 crore for the March quarter on account of a one-time impairment of Tuticorin asset.
IndiGo places firm order for 30 wide-body A350-900 aircraft
The airline will also have the option to purchase 70 more such aircraft
Twins ace IIT JEE Main 2024: Aarav scores 100, Aarush 99.65
The National Testing Agency (NTA) recently declared the results of the JEE Main 2024 session 2 on April 24. Among the candidates who appeared for the exam, an impressive total of 56 individuals achieved a perfect score. Notably, Nilkrishna Gajare from Maharashtra emerged as the topper of the exam.
LS polls expenditure may touch Rs 1.35 lakh cr in 2024, say experts
PEGGED AS COSTLIEST EVER