Tata Motors Acquires Ford’s Sanand EV Facility

Tata Motors Acquires Ford's Sanand EV Facility

To expand its capacity for both production and sales, Tata Motors has acquired a former Ford India manufacturing site located in Sanand, Gujarat. The facility was purchased for approximately Rs 725.7 crore, with an additional Rs 1,300 crore allocated for retooling. It is currently known as the Tata Passenger Electric Mobility (TPEM) facility.

Electric vehicles (EVs) and internal combustion engine (ICE) vehicles can be produced on the same production line at the Sanand site. With models like the Tata Nexon and Tata Nexon EV available in both ICE and EV configurations, Tata Motors is currently the top EV brand in India. Moreover, the plant’s compatibility with four distinct platforms guarantees its long-term utility.

The recently purchased plant is next to another one where Tata Motors sees Indian automakers having a prosperous future. In conclusion, Tata Motors has been able to increase its manufacturing capacity and provide both ICE and EV automobiles thanks to the acquisition of the Sanand facility. The plant was significantly altered to accommodate Tata’s manufacturing requirements.

Tata Motors’ production capacity has been greatly increased with the purchase of the Sanand factory. The plant has the capacity to create an extra 3 lakh automobiles a year, and it may even be able to reach 4.2 lakh. Tata needs to expand in order to launch multiple new goods by 2026.

In other news, Tata Motors Passenger Vehicles (TMPV) and Tata Passenger Electric Mobility (TPEM) – subsidiaries of Tata Motors, have joined hands with Bajaj Finance, part of Bajaj Finserv Ltd., one of diversified financial services groups. This partnership extends supply chain finance solutions to its passenger and electric vehicle dealers. Through this memorandum of understanding (MoU), the participating companies come together to leverage Bajaj Finance’s wide reach to help dealers of TMPV and TPEM access funding with minimal collateral. The MoU for this partnership was signed by Dhiman Gupta, Chief Financial Officer, of Tata Passenger Electric Mobility Ltd., and Director, of Tata Motors Passenger Vehicles Ltd., and Siddhartha Bhatt, Chief Business Officer, of Bajaj Finance Ltd.