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Tata Motors is planning to invest INR 2,000 crore at Ford’s Gujarat Plant in Sanand in their bid to manufacture two lakh electric vehicles (EVs) by 2026, according to a leading daily newspaper.
The staff employed at the plant had protested against Ford India’s decision of closure of the manufacturing facility amid fears of losing their livelihood. Over 23,000 workers had been employed directly/indirectly at the plant.
However, according to reports, Tata Motors has assured the Gujarat government that none of the existing workers employed at the Ford facility will be laid off by the new owners.
Tata Motors has been seeking a concession on the land transfer rate and has proposed a 20% of jantri rate of the land – that will amount to INR 66 crore. Tata Motors will continue to relish the exclusive incentive and benefits that were granted to Michigan-headquartered manufacturers when they set the plant up in Sanand.
“The proposed takeover will become a major landmark in EV production in India and will trigger interest from local and global players for setting up capabilities and capacities for new technologies in the state”, said a note from Gujarat Government on the proposed takeover.
Tata Motors intends to ramp-up their production of EVs in Sanand. With the potential investment of INR 2,000 crore in the facility they are most likely to acquire soon, the automobile manufacturers will be able to produce a projected two lakh EVs per annum.
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