Mumbai / Chennai: Tata Motors in initial talks with Ford to buy the latest units in Tamil Nadu and Gujarat, some sources have told TII.
If the transaction is realized, it will be the purchase of the second asset of Tata Motors from the US major.
In March 2008, Indian companies bought Jaguar Land Rover from Ford at a price of $ 2.3 billion.
For Tata Motors, which changes the gear for environmentally friendly vehicles, the addition of Ford manufacturing facilities in TN and Gujarat will add to their abilities in the automotive industry.
Tata Motors currently has three passenger vehicle manufacturing plants in this country (one is a joint venture with Fiat Chrysler).
The Ford India agreement, which is at a newborn stage, appears after Tata Motors separates its domestic passenger vehicle business, worth around Rs 9,420 Crore, becoming an independent entity.
Ford, for its part, will spill Indian units that lose money and increase investment in electric and automatic vehicles, future mobility.
Interest in Tata Motors in the Local Unit Ford obtained momentum after his leadership, including Chairman of the Chandrasekan and Executive Director of Girish Wagh, met Government officials Tamil Nadu.
While Tata Motors does not have manufacturing facilities in Tamil Nadu, it has a factory in Gujarat, which is next to the Ford production unit.
Tamil Nadu is too interested in finding the owner of the Ford facility in the state so that it can protect work because the US department has decided to stop making a car in India.
Ford took steps after the accumulation of Indian unit losses passed $ 2 billion over the past 10 years and the road to profitability continued to be involved.
Continuing consideration and Tata Motors can decide not to continue with the agreement.
A spokesman for Tata Motors said that Chandrasekan has a “courtesy meeting” with the Chairman of the Minister of National Education M K Stalin but refused to share the details of the discussion.
Ford spokesman India said: “We continue to explore the possibility of alternatives for our manufacturing facilities and have nothing to comment on ongoing speculation.” Head of Financial Services Oswal Motilal (Research) Siddhartha Khemka said that the Indian Ford agreement would be feasible for Tata Motors because it would be a depressed sale with the expected benefits of the Tamil Nadu government.
Tata Motors in talks to buy Gujarat Ford, Tamil Nadu Unit
