Tata motors of India are now all set to take over the Ford‘s car manufacturing plant located at Sanand, in Gujarat. The ministry of Gujarat, approved the proposal put forward by both the companies.
Tata Motors and Ford Motor Company
As per reports from TOI, the Tata motors will be able utilise the benefits that were previously given to the Ford Company. The Gujarat cabinet has issued a No Objection certificate thus giving both the companies a thumbs up to initiate the process.
According to officials, both companies will be signing an MoU on Monday in the presence of Chief Minister, Bhupendra Patel.
The company Ford announced its exit from India around last year and ever since then manufacturing plant Sanand has not been operational.
As per the statements released by the officials, “The Gujarat Cabinet’s approval is only a green signal.. The companies are still in talks to work out the nitty-grities with regard to the deal size, labour issues, financials, and duties and benefits involved in the takeover.”
