Tata Electric will formally acquire ownership of Ford's Sanand Plant by early 2023
Tata Motors' electric vehicle (EV) branch, Tata Electric Mobility, moved to take over its Sanand facility in August 2022 after Ford ceased producing in the nation. The two businesses have now agreed that Tata will complete the whole transaction and take ownership of the Sanand factory on January 10, 2023.
In accordance with the contract, Tata will purchase the entire property, including the land, buildings, tools, and machinery. The total price of the transaction is Rs 725.70 crore, which Tata must pay by the mutually agreed-upon deadline of January 10.
Although the Sanand factory was designed to produce ICE cars, it is anticipated that it would be outfitted to produce electric vehicles as part of Tata's expanding EV lineup. The automaker now sells the Nexon EV Prime, Nexon EV Max, Tigor EV, and Tata Tiago EV in India. Later, it's anticipated that both the Curvv EV and an EV based on the Punch mini SUV would be released.
The precise automobiles that will be produced at the plant have not yet been officially announced by Tata. The Sanand factory can now produce up to 3 lakh automobiles yearly, with a potential increase to 4.2 lakhs.
Starts Rs 4.6 Lakhs