Memorandum

Tata Passenger Electric Mobility Limited (TPEML) and Ford India Private Limited (FIPL) have signed a Memorandum of Understanding with the Government of Gujarat for the potential acquisition of FIPL’s Sanand vehicle manufacturing facility including (i) Land & Buildings (ii) Vehicle Manufacturing Plant, Machinery and Equipment and (iii) transfer of all eligible employees of FIPL Sanand’s vehicle manufacturing operations, subject to the signing of definitive agreements and receipt of relevant approvals. FIPL will operate its Powertrain manufacturing facilities by leasing back the land and buildings of the Powertrain unit from TPEML.Tata Motor’s Passenger and Electric Vehicles have delivered market-beating growth with…