is set to sign a definitive agreement with Ford Motor Co. to acquire its plant in Sanand, Gujarat. The homegrown car maker will pay Rs 700-750 crore for the plant and the workforce, they said. While urban demand remained strong, a good monsoon will add to demand growth over the near term, according to the Tata Motors management. Tata Motors increased its market share in the domestic PV market from 12.1% in FY22 to 14.3% in the June quarter. “Tatas get a readymade, state-of-the-art plant set for plug-and-play while Ford also retains a part for export.

Source: Economic Times August 08, 2022 02:02 UTC