0

0

0

0

0

0

0

0

0

Tata Motors in talks to buy Ford plants: Report

Tata Motors in talks to buy Ford plants: Report
Tata Motors is in early talks with Ford to buy the latter’s units in Tamil Nadu and Gujarat, Times of India reported on Friday.
If the deal gets through, it will be the Indian carmaker’s second asset purchase from the US major. Tata Motors had bought Jaguar Land Rover from Ford for $2.3 billion in March 2008.
According to the TOI report, the addition of Ford's manufacturing facilities will augment Tata Motors’ capabilities, as it is gearing up to make eco-friendly vehicles.
As part of a restructuring exercise, the US auto major will shut its two manufacturing plants in India and will sell only imported cars in the country.
Tata Motors' interest in Ford's facilities gained momentum after its leadership, including chairman N Chandrasekanar and executive director Girish Wagh, met Tamil Nadu government officials.
On the other hand, Ford will gain from the sale as it will stop draining money of the company in India units. The company would escalate investments in electric and automated vehicles, the future of mobility, the report said.
Tata Motors has no manufacturing facility in Tamil Nadu, however, it has a plant in Gujarat, which is next to Ford's production unit. According to the report, the Tamil Nadu government is also trying to find an owner for the Ford's facility.
 
next story