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Tata Motors Seals deal to takeover Ford's India's car Manufacturing Plant in Chennai
There were reports that Tata Motors has made a decision to take over Ford India Manufacturing plant in Chennai.
- In the early hours today, there were reports that Tata Motors has made a decision to take over Ford India Manufacturing plant in Chennai.
- Both TATA motors as well as Ford India has manufacturing plant in Gujarat. Coincidentally, these 2 plants are located next to each other on the outskirts of Ahmedabad city, in Sanand. From Tata plat, they can produce Tiago and Tigor wherin Ford used to produce Figo, Freestyle and aspire
In the early hours today, there were reports that Tata Motors has made a decision to take over Ford India Manufacturing plant in Chennai. The above news might be one of the reason as the Tata Motors share price witnessed soaring in the 1st hour of trading on the Bombay stock exchange. There is no official confirmation yet, from Tata motors.
A few days ago, there has been announcement that, the former Ford India MD, Anurag Mehrotra has joined Tata Motors CV business. Anurag has resigned from Ford on 24th September 2021, about 15 days after Ford has announced their India Exit. 48 year old, Anurag, is presently the VP of TATa CV international Business & Strategy.
Both TATA motors as well as Ford India has manufacturing plant in Gujarat. Coincidentally, these 2 plants are located next to each other on the outskirts of Ahmedabad city, in Sanand. From Tata plat, they can produce Tiago and Tigor wherin Ford used to produce Figo, Freestyle and aspire. At the Chennai plant, Ford earlier used to manufacture Ecosport and endeavour SUVs.
Ford's decision to leave India
Ford Company has made a decision to stop all manufacturing operations in India; this may be the result of a proposed joint venture with Mahindra that had fell through early this year. After following this, the company has decided to wind down its manufacturing process in the nation and cut its operating losses which stood at more than 2 billion over the past 10 years.
There are about 4,000 employees at the Chennai plant, which are affected by this shut down even as Ford has confirmed that it might work with employees, unions, dealers, suppliers as well other stakeholders in Chennai and sanand from where the company would be manufacturing engines for exports so to make sure to have a fair deal. However, now with Tata group likely to take over, according to the latest round of talks, this should be smoother transition.
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